Tag Archives: Paul Jacobson

GM to Sell Lansing Battery Plant to LG Energy Solution

Posted on 2 December 2024 by Ken Zino

General Motors (NYSE: GM) said today that it has reached a non-binding agreement to sell its stake in the nearly completed Ultium Cells LLC battery cell plant in Lansing, Michigan to its joint venture partner LG Energy Solution.* The transaction is expected to close in the 2025 first quarter, subject to customary closing conditions. 

“Our EV profitability is rapidly improving thanks in part to our strategic decision to build battery cells in the U.S. with LG Energy Solution. It will be years before some of our competitors approach this level of performance,” said Paul Jacobson, GM executive vice president and CFO. “We believe we have the right cell and manufacturing capabilities in place to grow with the EV market in a capital efficient manner. When completed, this transaction will also help LG Energy Solution meet demand by leveraging capacity that’s nearly ready to come online and it will make GM even more efficient.”  Continue reading →

Posted in auto news, electric vehicles, electronics, environment, global warming, mobility company, news analysis, public health, shows and events | Tagged , , , , , , , , | Leave a comment

GM Earns $4.4 Billion on Record Revenue – Raises Forecast

Posted on 23 July 2024 by Ken Zino

“With our new investments, we have an even stronger focus on margins and capital efficiency.,” said Mary Barra, GM Chair and CEO “It was truly a great first half. And we have the products, discipline and strategies to drive future success.” Continue reading →

Posted in auto news, autonomous vehicles, connected vehicles, economy, electric vehicles, financial results, marketing, mobility company, news analysis | Tagged , , , , , , , , | Leave a comment

GM Earns $2.1 Billion in Q4, $17.8 Billion for Full Year 2023

Posted on 30 January 2024 by Ken Zino

“As we begin 2024, I believe GM is well positioned for a year of strong financial performance that will build on everything we accomplished – and learned – in 2023,” said Mary Barra, GM chair and CEO. “Consensus is growing that the US economy, the job market and auto sales will continue to be resilient, and at GM, we expect healthy industry sales of about 16 million units with the mix of EVs continuing to grow,’ Barra said. Continue reading →

Posted in economy, electric vehicles, environment, financial results, mobility company, news analysis, software defined vehicles | Tagged , , , , , , , , , , | Leave a comment

GM Raises 2022 Earnings, Offers 2023-25 Performance Goals

Posted on 17 November 2022 by Ken Zino

General Motors Co. (NYSE: GM) at its annual investors’ meeting in New York City significantly raised its 2022 financial results predictions. GM now projects full-year 2022 adjusted automotive free cash flow will increase to $10-11 billion from its previous guidance of $7-9 billion. GM now projects 2022 EBIT-adjusted for the full year will be in a range of $13.5-14.5 billion, compared to its previous guidance of $13-15 billion. Continue reading →

Posted in economy, electric vehicles, financial results, news analysis | Tagged , , , , , , | 1 Comment

Covid Recovery: GM Stock Dividend Returns

Posted on 19 August 2022 by Ken Zino

GM suspended its quarterly dividend in April of 2020 in response to uncertainty caused by the global coronavirus pandemic. While some uncertainty still exists, AutoInformed thinks that the ongoing successes of the Biden Administration’s public health and employment policies – particularly the passage of the Stop Inflation Recovery Act of 2022 – are reasons for optimism. Continue reading →

Posted in financial results, news analysis | Tagged , , , , , , | Leave a comment