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SoftBank to invest $2.25B in GM Cruise; GM to add $1.1B; driving large-scale AV deployment

Green Car Congress

billion in GM Cruise Holdings LLC (GM Cruise), further strengthening the company’s plans to commercialize autonomous vehicle (AV) technology at large scale. GM will also invest $1.1 billion in GM Cruise upon closing of the transaction. The investments value GM Cruise at $11.5 SoftBank Vision Fund will invest $2.25

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China puts its electric vehicles on center stage - China automotive news

Tony Karrer Delicious EVdriven

As a subscriber, you can receive our free weekly China Auto News, which keeps you informed the latest developments of Chinas automobile industry. Alternative-fuel cars were some of the hottest items on display at the Shanghai auto show from homegrown companies like Geely Automobile Holdings Ltd., Brilliance Jinbei Automobile Co.

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Are Rising EV Inventories Proof Nobody Wants Them?

The Truth About Cars

Despite elevated fuel prices, aggressive marketing, and most companies vowing to transition toward building electrified automobiles exclusively, America has an EV supply of more than 100 days on dealer lots. That’s been enough to make it one of the top ten best-selling automobiles in North America.

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The EV Transition Explained: Reshaping Labor Markets

Cars That Think

President Biden says his EV policies will result in “one million new jobs in the American automobile industry. The automaker has already begun idling auto plants and is warning of future closures to pay for its transition to EVs and to try to keep EV prices affordable. One million.”. Neither does the U.S.

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How Carmakers Are Responding to the Plug-In Hybrid Opportunity

Tony Karrer Delicious EVdriven

GM has announced plans for public sales in 2010, and almost every carmaker now says it will sell PHEVs or highway-speed battery electric vehicles (BEVs) sometime after 2010. The electrification of the automobile is inevitable." When Lutz first proposed creating an electric car in 2003, the idea "bombed" inside GM, he says.

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GM Says Chevrolet Volt Won't 'Pay the Rent' | Autopia from Wired.com

Tony Karrer Delicious EVdriven

But it is a price that must be paid, and GM should be commended for remaining committed to the Volt. It isa fundamental change in direction for GM. GM will leapfrog Toyota and Honda by providing an electric car to the masses by the end of next year. GM is developing more fuel-efficient vehicles. Thats short-sighted.

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