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General Motors to Move from Long-Running Detroit HQ Into a New Location Across Town

The Truth About Cars

General Motors recently announced a move from the Renaissance Center (RenCen), the building it purchased in 1996, to a new location at the Hudson’s Detroit building further north. He did say that GM’s executives and corporate offices, including finance, legal, and other departments would make the move.

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Automotive industry develops new guidance for measuring recycled content of automotive products

Green Car Congress

R3: Recycled portion of purchased raw material, including materials recovered or generated by other industries. Only the recycled portion of a purchased raw material may be counted when material consists of recycled and virgin content. —Reeshemah Howard, Sustainability Mission Leader, General Motors.

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General Motors And Tengzhong Sign Definitive Agreement For Sale Of HUMMER

Green Car Congress

General Motors and Sichuan Tengzhong Heavy Industrial Machinery Co., Tengzhong intends to purchase HUMMER through an investment entity, in which it will hold an 80% stake. Credit Suisse is acting as exclusive financial advisor and Shearman & Sterling is acting as international legal counsel to Tengzhong on this transaction.

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Lordstown Motors Goes Bust

The Truth About Cars

On Tuesday, Lordstown Motors Corp. Former chief executive of Lordstown Motors, Steve Burns, managed to sell off every share of his stock before the company filed for Chapter 11. Meanwhile, the Lordstown Motors of today is on damage control with the business issuing a press release explaining the bankruptcy and what it intends to do.

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Former Lordstown CEO Given Permission to Buy Back Company Assets for $10 Million

The Truth About Cars

Ohio-based Lordstown Motors has received approval from the U.S. that inflated Lordstown Motors’ valuation in October 2020, Burns owned about 25 percent of the company stock. While LAS Capital has no formal affiliation with Lordstown Motors, it didn’t take long for people to notice that Burns was involved.&

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GM and Koenigsegg Sign Stock Purchase Agreement For The Sale Of Saab

Green Car Congress

General Motors Co. confirmed it has signed a stock purchase agreement with Koenigsegg Group AB regarding the sale of 100% of the shares of Saab Automobile AB. Saab Automobile plans to exit legal reorganization shortly. The stock purchase agreement will be subject to agreed closing conditions.

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Toyota-backed U.S. self-driving startup garners $67 million investment

Teslarati

May Mobility says it has technology that’s the equivalent of Level 4 automated driving, which means that the vehicles won’t be required to have a driver at certain points and in regions where it’s designated as legal, according to Society Automotive Engineers (SAE) autonomy designations.

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