Tata Motors to invest ₹28,900 crore in FY22, says Chandrasekaran

‘In time, EVs to contribute 25% of sales’ Tata Motors group will invest ₹28,900 crore across its domestic business and JLR in 2021-22, and in the development of hydrogen fuel cell vehicles, Chairman N. Chandrasekaran said. The company will also look to raise capital separately for its electric vehicles (EV) business ‘at an appropriate time’.… Continue reading Tata Motors to invest ₹28,900 crore in FY22, says Chandrasekaran

Lucid Motors stock pops in debut, CEO’s goal is affordable electric vehicles

Lucid Motors aims to ‘transition mankind’ towards sustainability, says CEO Lucid Motors CEO and CTO Peter Rawlinson discusses the company’s challenge to Tesla and other electric vehicle vendors. Lucid Motors, the newest publicly traded electric vehicle company, lapped up gains on its first day of trading.  Now officially named Lucid Group, following its completed reverse… Continue reading Lucid Motors stock pops in debut, CEO’s goal is affordable electric vehicles

Lordstown Motors says it doesn’t have cash to start commercial production

Lordstown Motors CEO plans to deliver electric truck to market by next September The electric vehicle startup hopes to beat Tesla, General Motors in the race to production Electric-truck startup Lordstown Motors Corp. disclosed in a new regulatory filing Tuesday that it doesn’t have sufficient cash to start commercial production and has doubts about whether… Continue reading Lordstown Motors says it doesn’t have cash to start commercial production

Lucid Motors' $24 billion blank-check deal sparks bubble concerns

(Reuters) – Electric vehicle sensation Lucid Motors has set the market alight this week with a $24 billion blank check deal to list in New York, but it has also sparked concerns among some investors of a short circuit in the valuation of electric vehicle makers.FILE PHOTO: The Lucid Air speed test car is displayed… Continue reading Lucid Motors' $24 billion blank-check deal sparks bubble concerns

Tesla rival Lucid Motors to go public in $24-billion mega SPAC deal

(Reuters) – Luxury electric vehicle maker Lucid Motors on Monday agreed to go public by merging with blank-check firm Churchill Capital IV Corp in a deal that valued the combined company at a pro-forma equity value of $24 billion.FILE PHOTO: The Lucid Air speed test car is displayed at the 2017 New York International Auto… Continue reading Tesla rival Lucid Motors to go public in $24-billion mega SPAC deal

Nikola shares jump after report says GM executive backs deal

(Reuters) – Shares of Nikola Corp NKLA.O rose nearly 10% on Wednesday after a General Motors GM.N executive told CNBC the Detroit-based automaker still sees a partnership with the electric-vehicle start-up being a great opportunity. The report quoted GM President Mark Reuss saying there were “great” operational cost advantages, efficiencies and opportunities from the partnership.… Continue reading Nikola shares jump after report says GM executive backs deal

Ohio demands General Motors pay $28 million for shuttering Lordstown factory

Ohio officials ordered General Motors to repay $28 million in state tax credits after it shuttered a factory it promised to keep open for three decades. The state’s Development Services Agency says the Detroit auto giant broke the terms of 2008 economic-development deals by closing its Lordstown plant in March of last year — a… Continue reading Ohio demands General Motors pay $28 million for shuttering Lordstown factory

Nikola Motors lawyers up to combat 'false and deceptive' short-seller claims

Nikola founder: Partnership with GM will bring $10B of savings for our company Nikola founder and Executive Chairman Trevor Milton discusses working with General Motors on a new electric truck called The Badger. Nikola Corp. has hired outside counsel to fight back against a short-seller's claims the electric-truck maker conned its way into a partnership… Continue reading Nikola Motors lawyers up to combat 'false and deceptive' short-seller claims

General Motors (GM) Charges Higher on Nikola (NKLA) Deal

General Motors Company (GM) stock gained nearly 8% Tuesday after the traditional carmaker announced that it had entered a strategic alliance with Nikola Corporation (NKLA) to engineer and build the electric-vehicle startup's highly anticipated Badger pickup truck. As part of the deal, GM will receive an 11% stake in Nikola. Key Takeaways GM has entered… Continue reading General Motors (GM) Charges Higher on Nikola (NKLA) Deal

General Motors Files Patent for a Blockchain-Based Navigation Map

Major car manufacturer, General Motors, or GM, has filed a patent application for a continuously updating navigation map system. The system would use blockchain to integrate data from vehicle sensors and build a reliable map for autonomous vehicles. According to the filing, which was submitted on Oct. 1, 2018 and published on April 2, 2020,… Continue reading General Motors Files Patent for a Blockchain-Based Navigation Map

General Motors moves over 1,350 temporary workers to full-time jobs

(Reuters) – General Motors Co. (GM.N) said on Wednesday more than 1,350 hourly employees at its assembly plants in the United States will transition into full-time roles in the first quarter of 2020. The employees are from 14 General Motors manufacturing facilities in Michigan, Indiana, New York, Texas, Tennessee, Missouri, Kansas and Kentucky, the company… Continue reading General Motors moves over 1,350 temporary workers to full-time jobs

General Motors’ Financial Arm Inks Partnership Deal with Blockchain Firm – BTCMANAGER

GM Financials, an arm of General Motors which provides auto loan financing through auto dealers in the U.S. and Canada, has joined forces with Spring Labs,  a distributed ledger technology (DLT) startup, to enable the latter to develop blockchain solutions aimed at enhancing the processes of GM Financials, including verification of sensitive customer information, reports… Continue reading General Motors’ Financial Arm Inks Partnership Deal with Blockchain Firm – BTCMANAGER