This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Pinnacle Engines also announced closure of its Series C financing, bringing total investment in the company to more than $30 million. Investors in the round included Mitsui Global Investment, VenturEast and a strategic OEM partner along with its existing investors Bessemer Venture Partners, New Enterprise Associates and Infield Capital.
million and 4 million vehicle sales respectively), according to research company Bloomberg New Energy Finance (BNEF). In the short term, price will be the most significant limitation to the uptake of both plug-in hybrid vehicles like the GM Volt and fully electric vehicles such as the Nissan Leaf, BNEF said. Last week, J.D.
Kleiner Perkins and GM Ventures led the financing, with significant growth funding from other existing investors. Another $10 million in funding is expected to close within the coming weeks, bringing the total for the financing to $40 million. Edison Energy, Inc.
have entered into a definitive agreement for GM to acquire AmeriCredit, a leading independent auto finance company, in an all-cash transaction valued at approximately $3.5 Since GM and AmeriCredit launched a successful non-prime program in September 2009, GM’s non-prime penetration has increased significantly, according to the company.
GM Ventures, the automaker’s investment arm, has made a strategic investment in Lithion Recycling’s Series A financing round, supporting a new GM-Lithion strategic partnership agreement to pursue a circular battery ecosystem using Lithion’s advanced battery recycling technology.
General Motors and BrightDrop, a new business created and wholly owned by GM focused on electric commercial delivery and logistics, announced the Ultium Charge 360 fleet charging service, a comprehensive approach designed to help make the switch to electric seamless for fleet customers by connecting them with services, features and resources.
Volta, a builder of commerce-centric electric vehicle (EV) charging networks, announced an oversubscribed Series D financing of $125 million. Goldman Sachs acted as exclusive placement agent to the company in connection with the financing.
This is the first time in GM’s history in its largest market that it has reached the milestone in a calendar year. GM and its joint ventures offer more than 40 different models under seven brands in China. GM also offers a wide range of services tailored for the domestic market.
GM Heritage Center (Michigan). The addition of these 11 facilities to landfill-free status helps GM avoid more than 600,000 metric tons of CO 2 -equivalent emissions. Reuse: Grand Rapids Operations’ in-house oil recycling saves GM $1.2 Grand Rapids Operations (Michigan). Burton Warehouse and Distribution Center (Michigan).
Its innovative service models offer subscription solutions such as software-as-a-service and fully financed charging-as-a-service. InCharge Energy’s innovative service models offer subscription solutions such as software-as-a-service and fully financed charging-as-a-service.
billion federal loan to Ultium Cells LLC, for financing the construction of plants to supply many millions of future GM electric vehicles. The loan will fund the construction of joint-venture GM and LG Energy Solution battery plants in Ohio, Tennessee, and Michigan, and the confirmation.
GM Ventures joined lead shareholders EnerTech Capital and Fairhaven Capital Partners and five existing investors to complete the Series C financing round. Terms of the GM Ventures investment were not disclosed. —Jon Lauckner, GM’s chief technology officer, vice president of Global R&D and president of GM Ventures LLC.
GM) Chairman and CEO Dan Akerson signed an agreement today in Shanghai for the co-development of a new electric vehicle architecture in China. The electric vehicle architecture will be the first to be co-developed by the two companies; their Shanghai GM joint venture introduced the Sail electric concept vehicle late last year.
General Motors and Pacific Century Motors (PCM), an entity formed by The Tempo Group and E-Town, an affiliate of the Beijing Municipal Government, have reached an agreement for GM to sell GM Global Steering Holdings, LLC, commonly known as Nexteer, to PCM. Girsky, GM vice chairman, Corporate Strategy and Business Development.
Several key issues will be finalized over the next few weeks to secure the binding agreements, including the written support of the labor unions to support the deal with the necessary cost restructuring for viability and the finalization of a definitive financing package from the German government.
Its manufacturing joint ventures and major brands all set new annual sales marks, enabling GM to remain the leader among global automakers in its largest market (US sales crested 2.2 GM became the first global automaker to sell more than 2 million vehicles in China in a single year earlier in 2010. Earlier post.)
Shanghai GM has outlined the next phase of its “Drive to Green” product strategy—launched in 2008 ( earlier post )—for 2011-2015. The joint venture between GM and SAIC intends to reduce fuel consumption and CO 2 emissions by 15% while improving performance 14% by 2015. Several targets announced in 2008 have already been achieved.
In November 2019, the Lodstown Motors acquired the Lordstown Complex, formerly a General Motors Corporation (GM) factory. billion transaction provides Lordstown Motors with $675 million of gross proceeds.
reached agreements with the US Treasury and the governments of Canada and Ontario for the creation of a smaller, self-sustaining “New GM”. Pending approvals, the New GM is expected to launch in about 60 to 90 days as a separate and independent company from the current GM. GM Manufacturing Plans. General Motors Corp.
Starting tomorrow and running through 8 September, GM is running a test program for online car sales on eBay in California at gm.ebay.com. With more than 225 GM dealers in California participating, shoppers can at any given time expect to see a selection of up to 20,000 new GM vehicles, according to the company.
General Motors announced the most comprehensive customer protection in the industry with “GM Total Confidence”. Once a buyer is halfway through a finance contract, he or she qualifies for “Vehicle Value Protection.” Once a buyer is halfway through a finance contract, he or she qualifies for “Vehicle Value Protection.”
General Motors is leading a $60-million Series B financing round in Mitra Chem , a Silicon Valley-based, AI-enabled battery materials innovator. The company’s AI-powered platform and advanced research and development facility in Mountain View, California, will help accelerate GM’s commercialization of affordable electric vehicle batteries.
Between now and 2020, GM and its joint ventures plan to roll out more than 60 new and refreshed models in China, including 13 this year, with a strong focus on SUVs, MPVs and luxury vehicles. During the period, GM and its joint ventures will roll out more than 10 new energy vehicles under the Chevrolet, Buick, Cadillac and Baojun brands.
China domestic sales of SAIC-GM JVs and milestones. GM and SAIC JVs have sold more than 6.3 Source: GM. SAIC and GM currently operate eight joint ventures in China. These products will join GM’s global vehicles, allowing GM India to quickly add entries in growing market segments. Click to enlarge.
GM Ventures is leading a $50-million Series B financing round in EnergyX , and has entered into a strategic agreement to develop EnergyX’s lithium extraction and refinery technology. There are many ways of gauging success, but few are more rewarding than the support of leaders like GM. Earlier post.)
This decision is dependent on the successful outcome of ongoing economic incentive negotiations between GM and state and local government officials. A selection team comprising leaders from several of GM’s functional areas, including manufacturing, labor relations and finance, made the final decision based on a specific set of criteria.
In a statement livecast on the Internet by the White House, President Barack Obama said that neither of the restructuring plans submitted by GM and Chrysler “ goes far enough to warrant substantial new investment. ”. The government will provide GM with “ adequate working capital ” for 60 more days to “ produce a better business plan ”.
XL Hybrids’ retrofit/upfit XL3 Hybrid Electric Drive System is now available for the GM 3500/4500 Cutaway/Cab Chassis beginning with MY2011 vehicles. The XL3 Hybrid System is compatible with all available wheelbases offered by bus manufacturers, including GM Cutaway single and double rear wheels. vehicle uptime.
As part of the proposed transaction, HUMMER will continue to contract vehicle manufacturing and business services from GM during a defined transitional time period. For example, under the proposed agreement, GM’s Shreveport Assembly plant would continue to contract assemble the H3 and H3T through at least 2010.
billion for Ultium Cells, a joint venture of General Motors (GM) and battery manufacturer LG Energy Solution, to help finance EV lithium-ion battery cell factories in three states. The post GM and LG to build 3 US EV battery factories with a $2.5B The US Department of Energy (DOE) has announced a conditional loan of $2.5
This year, GM will bring to the market more new energy vehicles. GM will also continue to enhance its local manufacturing capability. SAIC-GM’s Wuhan plant phase II will start operation this year. The company introduced the Buick LaCrosse Hybrid, Chevrolet Malibu XL Hybrid and Cadillac CT6 Plug-In in 2016.
Koenigsegg Group AB has terminated the agreement for its proposed purchase of GM’s Saab. GM President and CEO Fritz Henderson confirmed the Koenigsegg move today. GM and Koenigsegg had signed a stock purchase agreement regarding the sale of 100% of the shares of Saab Automobile AB in August. Earlier post.) Earlier post.).
GM described its approach at the Washington Auto Show. A partial draft checklist of stakeholders and enablers to help guide cities in making their regions plug-in friendly suggested by GM includes: Draft Checklist for a Plug-in Ready City. GM will undertake similar efforts around the country in communities such as Washington, D.C.
New certifications include the latest model years for the popular Ford Crown Victoria and E-series vans, and additional certifications for several medium duty GM platforms. With more than 200 eligible vehicles, this is the largest privately financed portfolio of autogas vehicle certifications in the US.
Soelect recently completed its $11-million Series A financing. Lotte Ventures teamed with GM Ventures and KTB Network to make the investment. —Wade Sheffer, Managing Director, GM Ventures. Lotte Ventures, through a fund sponsored by Lotte Chemical, was the lead investor.
General Motors announced that GM Ventures is leading a $50 million Series B financing round in EnergyX – a company specializing in direct lithium extraction and refinery technologies. more… The post GM invests millions in EnergyX to unlock North American lithium supply via sustainable extraction appeared first on Electrek.
CEO, Protean Electric and a 32-year auto industry veteran responsible for the development and production of the GM EV-1. Kwan, venture partner, Oak Investment Partners; Richard Nilsson, senior analyst, Foundation Asset Management; and Robert C. Purcell, Jr., Earlier post.).
Maven members pay a monthly fee to reserve a new GM vehicle loaded with technology for 28 days. Members can access popular GM vehicles for an extended time period without the commitment of leasing, financing or buying. Members can download the Maven app to view pricing by market in real time for Maven Reserve.
A recent article in The Street highlighted this Tesla achievement, noting that the world leader in EVs is taking trophies won by both GM and Ford for decades. Tesla is now making more money than General Motors and Ford.
The financing round was led by LDV Partners and Alpha JWC Ventures. Venti Technologies, a developer of safe-speed autonomous logistics systems, secured approximately $8 million in a seed round funding.
(EnergyX) and General Motors announced that GM Ventures is leading a $50 million Series B financing round in EnergyX, and has entered into a strategic agreement to develop EnergyX’s lithium extraction and refinery technology.
ZAP will begin financing discussions with fleet operators pending successful completion of the trial which is likely to run through the winter season. ZAP plans to utilize this financing alliance to pursue other volume fleet opportunities in the Americas and SE Asia.
Autonomous vehicle technology company Nauto ( earlier post ) closed a $159-million Series B financing round, led by a subsidiary of SoftBank Group Corp. Francis (Ford, GM) and Bruce Leak of Playground Global. and Greylock Partners.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content