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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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H2 Mobility initiative agrees on $474M plan for hydrogen refueling network in Germany; 400 stations by 2023

Green Car Congress

Accordingly the planned H2 Mobility joint venture will work closely together with the automobile industry. In addition to attractive procurement and operating costs for the vehicles, a need-related number of H 2 filling stations is one of the major preconditions for market success.

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GM and Stellantis Back Rare-Earth-Free Permanent Magnet

Cars That Think

For several years, the automobile industry has grappled with a straightforward question: Is it possible to produce a powerful, efficient, and mass-producible synchronous motor that contains no rare-earth elements at all? GM isn’t the only automaker on a hunt for rare-earth-free permanent magnets.

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Study of Sustainable Value in Automobile Manufacturing Finds Mixed Performance for Most OEMs, BMW and Toyota as the Clear Leaders

Green Car Congress

GM has consistently produced only a negative Sustainable Value, and reveals a downside trend over the entire review period. GM achieved a sustainable value of -€9.87 Economic crisis, energy crisis, climate crisis and recent global developments have affected the automobile industry like few other sectors.

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OnStar expanding to Brazil in Chevy Cruze

Green Car Congress

GM OnStar will launch its Emergency, Security, Navigation, Diagnostics and Connectivity services in Brazil on the Chevrolet Cruze later this year. OnStar services include: Security - Helps recover stolen vehicles. Emergency - Automatic Crash Response and 24/7 access to advisors to get help when it’s needed most.

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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. Tags: Production News Detroit GM Chevy Volt. By Richard Kessler for Recharge News.

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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. Rob Kleinbaum. points).