Lordstown Motors has completed a bankruptcy deal. GM invested $75 million in the EV startup Lordstown Motors in 2019, and then sold in late 2021. GM invested as part of the sale of an Ohio plant to the electric vehicle startup as well as a $675 million SPAC deal that took Lordstown public. Lordstown Motor …
Charge Enterprises built electric charging for dealers, hotels and other business customers. They made as much as $750 million per year in revenue but almost always had losses. GM and Stellantis were among the funders and customers of Charge Enterprises. In August 2023, GM, Honda, BMW, Mercedes-Benz, Hyundai, Kia, and Stellantis announced a $1 billion …
GM is canceling and delaying EV Factories and battery factories. GM was going to make several Ultium pouch battery factories with Korean battery maker LG Chem. The LG Chem factory will instead make 4680 cylindrical cell batteries which are the EV batteries used by Tesla. GM is delaying new electric SUV and trucks. GM is …
The Chevy Equinox EV will replace the Chevy Bolt as the entry-level EV model. The Equinox EV will have the 1LT model with a starting price of around $30,0001. The Equinox EV is GMs answer for the critical compact SUV segment. It rounds out an electrified portfolio that covers major segments, including full-size trucks (Silverado …
GM sold one electric Hummer from its introduction in November to the end of December. Biden drove the Electric Hummer at its unveiling. Was there only one GM electric Hummer for the past 50 days? GM had to recall every Chevy Bolt ever made so they had to stop making them until the batteries are …