GM Slashes EV Ambitions with $6 Billion Setback
#gm #ev #electrification #automotive
GM faces a $6B setback as it scales back aggressive EV plans amid weaker demand and fading tax credits.
General Motors (GM) is a leading American multinational corporation that has been a driving force in the automotive industry for over a century. Founded in 1908 by William C. Durant, GM began as a holding company for Buick and quickly expanded to include other prominent brands like Cadillac, Oldsmobile, and Chevrolet[1][3]. Durant's vision was instrumental in transforming GM into a global powerhouse, though he faced challenges, including being forced out in 1920 and later returning to co-found Chevrolet in 1911[2][3]. Under the leadership of Alfred P. Sloan, GM reorganized into a decentralized management structure, pioneering annual style changes and consumer financing innovations[1]. The company's impact on the automotive sector has been profound, introducing the electric starter and being a model for large-scale industrial enterprises[1][3]. GM's legacy includes a vast array of brands, though some like Oldsmobile and Pontiac have been discontinued[4]. In recent decades, GM faced significant challenges, including bankruptcy in 2009, but it has since recovered and is now focused on electric and autonomous vehicles[5]. Under CEO Mary Barra, GM has committed to a future of sustainable transportation, aiming for zero crashes, zero emissions, and zero congestion[6]. Today, GM operates globally, manufacturing vehicles in 35 countries and employing thousands worldwide[4]. Notable aspects of GM include its commitment to innovation and its role in shaping American industrial history. The company continues to evolve, investing heavily in electric vehicles and self-driving technology. As a leader in the automotive industry, GM remains a significant player in both business and technology, shaping the future of transportation with its pioneering spirit and technological advancements.
#gm #ev #electrification #automotive
GM faces a $6B setback as it scales back aggressive EV plans amid weaker demand and fading tax credits.
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#gm #ev #automotive_industry #industry_shifts #business_strategy
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The impact of President Trump's shifting stance on electric vehicles on the automotive industry and consumers.
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#general_motors #wall_street #earnings #automotive #covid-19 #chip_shortage #electric_vehicles #autonomous_vehicles
Wall Street eagerly awaits General Motors' earnings report, expected to show strong growth in the face of challenges.