General Motors

GM recalls 449K SUVs, pickups over faulty low brake fluid warning light

General Motors is recalling more than 449,000 of its SUVs and pickup trucks because the electronic brake control module software may fail to display a warning light when a loss of brake fluid takes place. The National Highway Traffic Safety Administration said Friday that the recall includes certain 2023-2024 Cadillac Escalade and Escalade ESVs, 2023 Chevrolet Silverado 1500, 2023-2024 Chevrolet Tahoe and Suburban 1500, 2023 GMC Sierra 1500, 2023-2024 GMC Yukon and Yukon XL models. The agency said that without the warning light, a vehicle may be driven with low brake fluid, which can reduce braking performance and increase the risk of a crash. A free software update will be provided to vehicle owners. Owner notification letters are expected to be mailed Oct 28. Vehicle owners can contact GMC customer service at 1-800-462-8782, Chevrolet customer service at 1-800-222-1020, or Cadillac customer service at 1-800-458-8006.

GM, Hyundai Motor agree to explore joint vehicle development projects

The US and Korean automakers said they had signed a non-binding memorandum of understanding to consider ways to leverage their complementary scale and strengths to reduce costs

Samsung SDI finalises deal to build $3.5 bn joint EV battery factory in US

The plan was first announced in April 2023 when GM and Samsung SDI said the joint venture would cost more than $3 billion, with planned production capacity of 30 GWh and operations to begin in 2026

US auto safety regulator gives clean chit to GM in Cruise robotaxis case

Cruise filed a recall for its software earlier this month affecting all its vehicles equipped with automated driving systems in the United States

General Motors to lay off more than 1,000 software engineers, mostly in US

The moves come two months after former Apple Inc. executives David Richardson and Baris Cetinok were promoted to senior vice president roles in the group

GM indefinitely delays plans of self-driving vehicle without steering wheel

In 2022, GM filed a petition with the National Highway Traffic Safety Administration seeking permission to deploy up to 2,500 self-driving Origin vehicles annually without human controls

General Motors beats quarterly revenue expectations, raises profit forecast

The Michigan automaker is leaning heavily on its gasoline-engine offerings to fuel its profits through a slower-than-anticipated transition to electric vehicles

Biden administration to award $1.1 bn to Stellantis, GM for EV production

Donald Trump has harshly criticised Biden's EV policies and vowed to reverse them if he takes office

Musk fires Tesla EV charging team, blindsiding automobile manufacturers

General Motors, Ford and other automakers which struck deals last year to give customers access to the network said they are not changing their plans

General Motors beats quarterly results targets, raises annual forecast

"Our consumer has been remarkably resilient in this period of higher interest rates," GM Chief Financial Officer Paul Jacobson said

Cruise to resume 'robotaxi' tests with safety drivers in Phoenix, Arizona

The company is set to announce and begin the testing as early as Tuesday, the report said, citing people familiar with the matter

China's SAIC Motor aims to slash jobs at GM, VW ventures, and EV unit

The state-owned automaker hopes to cut 30 per cent of employees at SAIC-GM, 10 per cent at SAIC Volkswagen and more than half at its Rising Auto EV subsidiary, the people said

Indian-origin eminent mathematician Dr T N Subramaniam dies in US

Dr T N Subramaniam, an eminent mathematician of Indian origin and creator of Route One company & server for General Motors, passed away in Michigan on Tuesday. He was 76. Subramaniam, who migrated to the US in 1979, was renowned in academic circles in India and the US. He leaves behind him a rich legacy of mathematical models and theories for the world of maths. He taught Maths at Philadelphia university for some years and then shifted to Oakland where he taught for several years. Later, he founded the Route One company for the automotive manufacturing company, which handles auto-financing for all GM cars and GPS systems. He was the architect of the server for the site for General Motors in Troy, Michigan, in the US. The then-Prime Minister Indira Gandhi also met him personally while on tour and encouraged him to be innovative and do things that the country could be proud of him. Subramaniam is survived by his wife, daughter, and son-in-law, who work for the Biden administration ..

GM's Cruise prepares to resume robotaxi testing after suspension

The company has been focusing its comeback plan on Texas, which has relatively liberal regulation for companies that seek to operate autonomous vehicles in the state

GM's Cruise hardware chief resigns in latest exit post operation suspension

Jenkins, the senior vice president for autonomous vehicle platforms, is leaving after six years with the company, he said in a post on LinkedIn

GM, Panasonic sign investment deals with Canadian graphite producer

GM and Panasonic have each committed to purchase 18,000 metric tons of active anode material annually over a period of six to seven years, Nouveau Monde Graphite said in a statement Thursday

General Motors recalls 323,000 pickup trucks in US because of glitch

General Motors is recalling more than 323,000 heavy-duty pickup trucks in the US because the electronic tailgate release switches can short circuit and open the gates while the vehicles are in park. The recall covers certain Chevrolet Silverado and GMC Sierra 2500 and 3500 trucks from the 2020 through 2024 model years. The National Highway Traffic Safety Administration says in documents posted on its website on Tuesday that water can get into the switches and cause the tailgates to open when in park gear. The agency says that can result in unsecured cargo falling out of the beds, creating a road hazard and increasing the risk of a crash. GM is advising owners to check that the tailgate is closed and latched before they drive the trucks. Dealers will replace an exterior touchpad switch. Owners are to be notified by letter starting March 18. GM dealers also have been told to stop selling affected vehicles until repairs are made. The company says in documents that it has 136 complain

GM says strike cost $1.1 bn but it can absorb rising labour costs

General Motors says pretax earnings took a USD 1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend. The Detroit automaker on Wednesday reinstated its full-year earnings forecast that was withdrawn after the United Auto Workers began targeting the factories of Detroit automakers with strikes on September 15. Those strikes continued at GM until Oct. 30. The company now predicts full-year net income of USD 9.1 billion to USD 9.7 billion, down from its previous outlook of USD 9.3 billion to USD 10.7 billion. But GM expects to generate more cash for the full year. It expects free cash flow of USD 10.5 billion to USD 11.5 billion, an increase from a previous forecast of USD 7 billion to USD 9 billion. To get there, GM expects to cut capital spending, including a slowdown in spending on electric vehicles and at Cruise, its troubled autonomous vehicle unit. California regulators revok

Vogt resigns as CEO of Cruise over questions of safety of self-driving cars

Kyle Vogt has resigned as CEO of Cruise, General Motors' autonomous vehicle unit, as questions build about the safety of self-driving cars. Vogt's decision to step down, announced late on Sunday, follows a recent recall of all 950 Cruise vehicles to update software after one of them dragged a pedestrian to the side of a San Francisco street in early October. The California Department of Motor Vehicles revoked the license for Cruise. The company earlier announced it had paused operations for a review by independent experts. The results of our ongoing reviews will inform additional next steps as we work to build a better Cruise centred around safety, transparency and trust, the company said in a statement. We will continue to advance AV technology in service of our mission to make transportation safer, cleaner and more accessible. Cruise won approval to transport fare-paying passengers last year. Since then, the autonomous vehicles have drawn complaints for making unexpected, ...

Warren Buffett's Berkshire trims its HP stake, exits bet on General Motors

The conglomerate's retreat from Activision completes Buffett's arbitrage play amid the video-game maker's prolonged effort to merge with Microsoft Corp.