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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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UAW President: Tesla workers are union “members of the future”

Teslarati

During his speech in Ford’s hometown of Dearborn, Michigan, Bill Ford noted that high labor costs could limit spending on developing new vehicles and investing in factories. I still believe the automobile industry is a major force for good in our country. Instead, they are the UAW’s future members.

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University of Michigan Report Finds Focus on Fuel Economy Would Be Very Profitable for Detroit 3; Says Rapid, Wide-Reaching Change in Business Models Required for Turnaround

Green Car Congress

A new report released by the University of Michigan Transportation Research Institute ( UMTRI ) analyzes critical choices faced by automakers and finds that broad, deep, fast change is necessary for success in the context of the worst financial crisis in the history of the domestic automobile industry. Click to enlarge.

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GM’s Volt Program = $700m

Revenge of the Electric Car

GM to invest $700m in Volt rechargeable electric car. “GM is spending $336m to upgrade the Hamtramck plant; $202m for a new plant in Flint, north of Detroit, that will build 1.4 GM to invest $700m in Volt rechargeable electric car. Michigan has approved $135.2m Tags: Production News Detroit GM Chevy Volt.

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The EV Transition Explained: Reshaping Labor Markets

Cars That Think

One of the most vexing social challenges confronting the transition to EVs at scale is dealing with the effects that governmental EV transition policies will have on millions of jobs across a wide swath of industries. President Biden says his EV policies will result in “one million new jobs in the American automobile industry.

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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. By partnering with these two industries. The electrification of the automobile is inevitable." todays answer is "Yes -- but not yet."

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Biden Visits UAW Picket Lines

The Truth About Cars

On Tuesday, President Joe Biden went to Michigan to join the United Auto Workers auto workers on the picket line after the union expanded striking to 38 additional GM and Stellantis facilities. And they saved the automobile industry. It is what it is and the union can pretend not to like the attention.

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