WebProNews

Tag: Mary Barra

  • GM Investing $650 Million in Lithium Americas for Lithium Mining

    GM Investing $650 Million in Lithium Americas for Lithium Mining

    General Motors is investing $650 million in Lithium Americas to help develop the Thacker Pass lithium mine in Nevada.

    As automakers transition to electric vehicles, the lithium needed for battery production is quickly becoming one of the most important elements to the automotive supply chain. GM wants to ensure it has access to all the supplies it will need and is willing to invest in Lithium Americas to make that happen.

    “GM has secured all the battery material we need to build more than 1 million EVs annually in North America in 2025 and our future production will increasingly draw from domestic resources like the site in Nevada we’re developing with Lithium Americas,” said GM Chair and CEO Mary Barra. “Direct sourcing critical EV raw materials and components from suppliers in North America and free-trade-agreement countries helps make our supply chain more secure, helps us manage cell costs, and creates jobs.”

    “The agreement with GM is a major milestone in moving Thacker Pass toward production, while setting a foundation for the separation of our U.S. and Argentine businesses,” said Lithium Americas President and CEO Jonathan Evans. “This relationship underscores our commitment to develop a sustainable domestic lithium supply chain for electric vehicles. We are pleased to have GM as our largest investor, and we look forward to working together to accelerate the energy transition while spurring job creation and economic growth in America.”

    GM has imposed certain conditions to its investment, however, including court approval for the mining operation to move forward, as well as a reorganization of Lithium Americas.

    GM’s investment will be split between two tranches. The funds for the first tranche will be held in escrow until certain conditions are met, including the outcome of the Record of Decision ruling currently pending in U.S. District Court. If those conditions are met, the funds will be released and GM will become a shareholder in Lithium Americas. The escrow release is expected to occur no later than the end of 2023. The second tranche investment is expected to be made into Lithium Americas’ U.S.-focused lithium business following the separation of its U.S. and Argentina businesses and is contingent on similar conditions, including Lithium Americas securing sufficient capital to fund the development expenditures to support Thacker Pass.

    GM’s investment will likely be followed by similar measures from other automakers as demand for lithium continues to skyrocket.

  • GM Scores Contract With Hertz for 175,000 Electric Vehicles

    GM Scores Contract With Hertz for 175,000 Electric Vehicles

    GM has scored a major contract with rental company Hertz, agreeing to provide the latter with 175,000 electric vehicles (EVs) over the next five years.

    Like most automakers, General Motors is racing to transition to EVs. The company has stated a “goal of 1 million units of EV capacity by the end of 2025.” It’s latest contract with Hertz is a major step in that direction, with a commitment to delivering 175,000 Chevrolet, Cadillac, Buick, GMC and BrightDrop EVs.

    “It’s exciting that two iconic American companies that have shaped the evolution of transportation for more than a century are coming together to redefine the future of mobility in the 21st century,” said Stephen Scherr, Hertz CEO. “We are thrilled to partner with GM on this initiative, which will dramatically expand our EV offering to Hertz customers, including leisure and business travelers, rideshare drivers and corporates.”

    “Our work with Hertz is a huge step forward for emissions reduction and EV adoption that will help create thousands of new EV customers for GM,” said GM Chair and CEO Mary Barra. “With the vehicle choice, technology and driving range we’re delivering, I’m confident that each rental experience will further increase purchase consideration for our products and drive growth for our company.”

    Hertz’s wants to have the largest fleet of rental EVs in North America. Its deal with GM should help it achieve that goal.

  • GM’s Mary Barra Says Company Could Top Tesla in EV Market

    GM’s Mary Barra Says Company Could Top Tesla in EV Market

    GM CEO Mary Barra is throwing down the gauntlet, claiming her company will top Tesla in the EV market.

    Tesla is the current reigning champion of the EV market. The company was synonymous with EVs for years, with traditional automakers only recently beginning to pivot to EVs en masse.

    GM is one such company, and is investing heavily in the transition, recently announcing a $7 billion investment in several Michigan plants, in an effort to convert half of its North America productions to EVs by 2030.

    Barra, however, has her sights set on a much more ambitious goal: unseating Tesla as the top dog in the EV market.

    “We want to lead in EVs. Full stop,” Barra told CBS News’ Ben Tracy. “And so that’s where we’re aggressively moving.”

    A big part of that plan is making more affordable EVs, much cheaper than the company’s Hummer, or Tesla’s upcoming Cybertruck.

    “The Equinox EV crossover is going to start around $30,000,” she said. “We’re also working on a vehicle that will even be more affordable than that.”

    “Customers are starting to be much more interested in EVs but they want the vehicle they want,” she added.

    As CBS News points out, GM definitely has an uphill battle. Tesla has 70% of the US EV market, compared to GM’s 6%. Nonetheless, Barra appears undeterred.

    “When you look at how many vehicles we’re going to be able to launch across many segments, that’s why by mid-decade we think we’ll be in a leadership position,” she said.

    “Clearly, that’s what we’re working from a North America perspective and we’re just gonna keep going until we have global leadership as well.”

  • GM Investing $7 Billion in Michigan Plants to Further EV Production

    GM Investing $7 Billion in Michigan Plants to Further EV Production

    GM is investing $7 billion in four Michigan manufacturing sites, as it pivots to electric vehicle (EV) production.

    Like virtually every major automaker, GM is working to transition to electric vehicles. As part of that transition, GM has the goal of having “more than 1 million units of electric vehicle capacity in North America.”

    The company has announced its single biggest investment in company history, a whopping $7 billion. The investment will help create 4,000 new jobs, as well as retain 1,000.

    “Today we are taking the next step in our continuous work to establish GM’s EV leadership by making investments in our vertically integrated battery production in the U.S., and our North American EV production capacity,” said Mary Barra, GM Chair and CEO. “We are building on the positive consumer response and reservations for our recent EV launches and debuts, including GMC HUMMER EV, Cadillac LYRIQ, Chevrolet Equinox EV and Chevrolet Silverado EV. Our plan creates the broadest EV portfolio of any automaker and further solidifies our path toward U.S. EV leadership by mid-decade.”

    GM sees the investment as a way to vertically integrate its EV production, a major step toward its goal of converting half of its North American production to EV vehicles by 2030.

  • GM Plans to Double Revenue by 2030

    GM Plans to Double Revenue by 2030

    General Motors plans to double its annual revenue by 2030, a far cry from the semiconductor woes the auto industry is currently dealing with.

    The semiconductor crisis has been taking a major toll on the auto industry. GM recently had to shut down the majority of its US plants, as a result of the shortage, and many other automakers have taken similar measures.

    Despite the current challenges, GM sees a rosy future ahead, with plans to double its annual revenue by 2030. Much of those plans revolve around the transition to electric vehicles and autonomous driving.

    GM’s plan to reach leadership in EV market share in the U.S. while growing its profits from internal combustion engine (ICE) vehicles. GM’s growth will be driven by the Ultium modular EV platform the company developed to launch a broad portfolio of highly desirable EVs using common, scalable components. The array of Ultium-powered EVs will include high-volume entries, including a Chevrolet crossover priced around $30,000, Buick crossovers, trucks from Chevrolet, GMC and HUMMER EV, as well as exquisitely crafted Cadillac EVs such as the upcoming LYRIQ and CELESTIQ.

    The company began meeting with investors on Wednesday, and is continuing Thursday, to discuss its plans in more detail.

    “GM’s vision of a world with zero crashes, zero emissions and zero congestion has placed us ahead of much of the competition in electrification, software-enabled services and autonomy,” said GM Chair and CEO Mary Barra. “Our early investments in these growth trends have transformed GM from automaker to platform innovator, with customers at the center. GM will use its hardware and software platforms to innovate and improve their daily experience, leading everybody on the journey to an all-electric future.”

  • GM CEO Wants Personal Autonomous Vehicles by 2030

    GM CEO Wants Personal Autonomous Vehicles by 2030

    General Motors CEO Mary Barra is has expressed her desire to have personal autonomous vehicles by 2030.

    Autonomous and self-driving vehicles are the next major evolution of the automotive industry. Early studies have shown autonomous vehicles can significantly reduce accidents and fatalities. Autonomous vehicles also promise to revolutionize the entire driving experience, freeing individuals from the tedium of actually driving. Instead, the daily commute could eventually be used to relax, watch TV or engage in any number of other activities.

    Many companies are focusing their self-driving efforts primarily on fleet vehicles, ride-sharing and other commercial applications. GM CEO Mary Barra, however, wants to see autonomous personal vehicles from GM by 2030.

    “There’s a lot to still unfold, but I believe we’ll have personal autonomous vehicles and then that will leverage the capability we have at Cruise with the capability that we have at the car company to really be well positioned to delight the customers from that perspective,” Barra said, according to TechCrunch. “So both paths are very important because the technology we put on vehicles today I think makes them safer and delights the customers and is going to give us an opportunity for subscription revenue, and then the ultimate work that we’re doing at Cruise, that is full autonomous, really opens up, you know, more possibilities then I think we can outline today.”

    GM has taken a measured approach to autonomous driving. Given that, Barra’s statement will likely put pressure on any slower-moving companies to pick up the pace.

  • GM Announces ‘Work Appropriately,’ Embraces Remote Work

    GM Announces ‘Work Appropriately,’ Embraces Remote Work

    GM is joining the list of companies, including its biggest competitor Ford, in embracing remote work.

    The pandemic has upended many industries, with remote work becoming an important element in keeping many businesses operational during lockdowns and quarantine. Remote work has been so successful that many in the tech industry have opted to embrace remote and hybrid work permanently. Companies outside the tech industries have started doing the same, with Ford making headlines in March with its decision to allow 30,000 employees to work from home permanently.

    GM has now joined that growing list of companies, with its “Work Appropriately” approach, unveiled by CEO Mary Barra in a LinkedIn blog post.

    The learnings and successes of the last year led us to introduce how we will manage the future of work at GM, called “Work Appropriately.” This means that where the work permits, employees have the flexibility to work where they can have the greatest impact on achieving our goals. The notion behind this approach – that our employees are capable of making smart decisions without overly prescriptive guidance – is the same notion behind our dress code, “Dress Appropriately.”

    Barra frames the decision in the context of attracting top talent. Numerous studies have shown that remote and flexible work options have become so important to many employees, that 29% would rather quit their jobs than go back to the office. More than 50% would be willing to trade vacation days for the ability to continue working remotely.

    GM recognizes the importance of flexible work options in the context of attracting the top talent needed for it to reach its long-term goals.

    Achieving our all-electric future will require attracting and retaining top talent, and we are excited to focus our employee engagement and hiring on the work, and not the where in many cases. We’re already adapting our recruitment efforts to include hiring positions that are designated specifically as remote.

    GM’s decision, along with Ford’s, will put further pressure on Toyota and other manufacturers to follow suit.

  • GM Commits to All-Electric Light-Duty Vehicles By 2035

    GM Commits to All-Electric Light-Duty Vehicles By 2035

    GM has become the latest company to commit to an all-electric light-duty lineup by 2035, with the goal of being carbon neutral by 2040.

    Automakers around the globe are embracing electric vehicle (EV) technology, with everyone from Subaru to Bentley committing to phasing out fossil fuels. In the US, President Biden’s action to rejoin the Paris Agreement is placing a renewed emphasis on combating climate change. In addition, President Biden has committed to replacing the entire federal vehicle fleet with American-made EVs.

    Given the groundswell of support, it’s not surprising GM has now become the latest automaker to embrace EVs, vowing to sell only emissions-free, light-duty EVs by 2035.

    “General Motors is joining governments and companies around the globe working to establish a safer, greener and better world,” said Mary Barra, GM Chairman and CEO. “We encourage others to follow suit and make a significant impact on our industry and on the economy as a whole.”

    The company has also committed to becoming carbon neutral in both its products and operations by 2040.

    “With this extraordinary step forward, GM is making it crystal clear that taking action to eliminate pollution from all new light-duty vehicles by 2035 is an essential element of any automaker’s business plan,” said Environmental Defense Fund President Fred Krupp. “EDF and GM have had some important differences in the past, but this is a new day in America — one where serious collaboration to achieve transportation electrification, science-based climate progress and equitably shared economic opportunity can move our nation forward.”

  • GM Launches BrightDrop Business to Build Electric Delivery Solutions

    GM Launches BrightDrop Business to Build Electric Delivery Solutions

    GM has launched a new business, BrightDrop, to build electric solutions to cover the entire delivery process.

    As the transition to electric transportation moves ahead, GM is working to tackle the delivery industry. To better do so, the company is launching BrightDrop, with a focus on developing an “ecosystem of electric first-to-last-mile products.”

    The first product that will come to market is the BrightDrop EP1, a propulsion-assist electric pallet. This will be followed by the BrightDrop EV600, an electric light commercial delivery vehicle.

    The company will also be developing a range software and services to compliment its products.

    “BrightDrop offers a smarter way to deliver goods and services,” said Mary Barra GM Chairman and CEO. “We are building on our significant expertise in electrification, mobility applications, telematics and fleet management, with a new one-stop-shop solution for commercial customers to move goods in a better, more sustainable way.”

    GM is working with FedEx Express to fine-tune the new products and services. One pilot program has already been completed, with another slated to begin.

    “Our need for reliable, sustainable transportation has never been more important,” said Richard Smith, FedEx Express regional president of the Americas and executive vice president of global support. “BrightDrop is a perfect example of the innovations we are adopting to transform our company as time-definite express transportation continues to grow. With this new suite of products, we will help improve the safety, security and timeliness of FedEx Express deliveries, while reducing our environmental impact and protecting the well-being of our couriers.”

  • GM Investing $2 Billion In US Electric Vehicle Manufacturing

    GM Investing $2 Billion In US Electric Vehicle Manufacturing

    GM has announced it is investing at least $2 billion to increase production of its electric vehicles.

    The company plans to transition its Spring Hill, TN factory to electric vehicle production, making it the third one equipped to do so. The all-new, electric Cadillac LYRIQ will be produced at Spring Hill, along with the Cadillac XT6 and XT5. The facility will continue to build a blend of traditional and electric vehicles.

    The company is also investing in five of its Michigan plants, investments that will help with future pickup and crossover production, as well as Cruise AV production. With this announcement, GM joins the list of automakers doubling down on an all-electric future.

    “We are committed to investing in the U.S., our employees and our communities,” said GM Chairman and CEO Mary Barra. “These investments underscore the success of our vehicles today, and our vision of an all-electric future.”

  • General Motors Under Fire For Recall Delay

    General Motors CEO Mary Barra was under fire Wednesday as the house subcommitte meeting on General Motors’ 11-year delay in recalling dangerous vehicles continued.

    This particular issue was raised about defective ignition switches which, with a heavy keychain or even a bump of the knee, could cut off power to the engine, power steering and brakes, and could cause airbags not to deploy.

    The faulty switch has been blamed for 13 deaths, however, Rep. Diana DeGette, D-Colo., said there could possibly be up to 100 deaths associated with the problem.

    The switch has caused the government to open an investigation into the switches of 1.2 million Chrysler vehicles. Now, the federal government is asking why the recall took so long, and why these and other safety issues brought up by inspectors and employees weren’t immediately tackled.

    Anton Valukas, an attorney who wrote the extensive report blames a culture inside General Motors that discouraged whistle-blowing. He claims that the complacency shown by executives and the “GM nod”-in which a committee agrees that something should be done, but no one does it-is to be blamed for delays and buck-passing that runs rampant through the company.

    That accusation, if taken with some personal anecdotes, wouldn’t be hard to prove. Take the case of Courtland Kelley, who blew the whistle and is paying the price.

    Steven Oakley, on page 93 of the report, was too afraid to push safety concerns that he noticed and reported on the Cobalt because his predecessor was “pushed out of the job for doing just that.”

    That predecessor was Courtland Kelley, who’s predecessor before him was also relieved of duty for reporting, and insisting on action for, problems.

    Together Kelley and his predecessor, Bill McAleer, worked in 1988 on what would become the company’s Global Delivery Survey. This was an audit of GM cars at rail yards across the country, a sort of spot check of vehicles on the last leg of their journey to dealerships. What they found was shocking.

    “Bill and I looked at each other in amazement,” Kelley later recalled in a deposition, “that that kind of thing was happening, where the bolts on the front suspension fell out as we drove over the track. I thought that GM alarm bells would go off.”

    But they didn’t. And the problem grew for Kelley as he continued to get the attention of executives at General Motors for other problems that he noticed. Finally, Kelley approached his direct supervisor, George Kingston, who in 2000 was director of quality for North American operations, with a heavy heart and lots of anxiety.

    “I would go to George and tell him this, but it didn’t seem to surprise him or provoke him to take new action,” Kelley said. “He seemed to take it more seriously when I told him that I could no longer sit by and I may have to personally go to the federal government.”

    Kingston’s response was discouraging and infuriating. “He cringed,” Kelley said, “and said that he would prefer that I don’t do that.”

    That was it for Courtland Kelley. He sued in 2003 and lost after the case was dismissed. Then he was moved across the company to a much less desirable position.

    How much blame will General Motors eventually take for all of these lives lost? I suppose only time will tell.

    Image via YouTube

  • Mary Barra, GM CEO, Gets Grilled By Congress Over Defective Ignition Switches

    On Wednesday, General Motors Chief Executive Mary Barra was asked to clarify the steps that General Motors is taking to resolve the car safety crisis.

    General Motors was forced to recall about 20 million vehicles due to defective ignition switches that caused deaths and injuries.

    Barra already faced the House Energy and Commerce Committee back in April, and was again questioned on Wednesday. It was revealed that top executives of General Motors were not alerted for years about the faulty ignition switches of their vehicles. The company was criticized for having a “culture of secrecy” and members said that not knowing about the issue does not absolve them of their responsibilities to their customers.

    Lawmakers also said that General Motors did not act with a sense of urgency, even as the injuries and accidents related to faulty ignition switches continued to climb. According to reports, the defective ignition caused at least 13 deaths and 54 accidents.

    Barra said that victims who suffered physical injury will be compensated. Relatives of victims who died will also be receiving compensation. She also said that there is no maximum amount for the compensation, but she has no idea of how much the victims will be getting.

    “I want this terrible experience permanently etched in our collective memories,” Barra said addressing the congressional committee. “This isn’t just another business challenge. This is a tragic problem that never should have happened. And it must never happen again,” she said.

    Barra outlined the steps that General Motors is taking in order to resolve the issue. So far, the company has reportedly fired 15 employees. They will also be restructuring the quality control and safety process for vehicles. Furthermore, they hired a mediation expert and attorney in order to help in administering the compensation fund for victims and their families.

    Image via YouTube