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The Latest Breaking News from Paul Jacobson

GM Posts Record Earnings In 2022, Plans $2B In Cost Cuts By 2024

The CFO is clear that layoffs are not part of the cost-cutting strategy.

Motor1

GM says fourth battery plant 'very much on track,' envisions others

General Motors Co. is still planning a fourth battery plant and even more beyond that despite the reported breakup with supplier and partner LG Energy Solution.

Tribune News Service

GM reports nearly $10 billion in profit in 2022 despite headwinds

General Motors Co. booked $9.9 billion in net income last year, down from 2021's $10 billion despite chronic supply chain woes, rising interest rates and a slowing economy.

Tribune News Service

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GM Expects EVs To Be Solidly Profitable With $50B Revenue In 2025

The company says it will increase its EV production to one million units annually across five North American assembly plants.

Motor1

GM Vows To Avoid "Opportunistic" EV Prices, Plays The Long Game

While consumers are still willing to pay a premium for EVs, according to research, GM will target similar prices to ICE vehicles, President Mark Reuss said.

InsideEVs

GM tells investors its EV business will deliver profits by 2025

General Motor Co.'s electric vehicle portfolio will be profitable by 2025, executives told investors Thursday in New York, delivering what it called low- to mid-single-digit adjusted margins to the bottom line.

Tribune News Service

GM's 2Q profits down 40% amid supply challenges, reaffirms full-year guidance

General Motors Co.'s second-quarter profits dropped roughly 40% year-over-year amid nagging supply-chain disruptions, even as the Detroit automaker forecast production improvements in the second half of the year and maintained its full-year earnings guidance.

Tribune News Service

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Morning Brief: Top Financial Stories Dominating on Wednesday, April 27

Reuters Kellogg Sues British Government Over New Sugar Rules

Benzinga

GM To Spend $2B On Self-Driving Startup Cruise This Year, Just A Permit Away From Charging Customers

General Motors Co (NYSE: GM) CFO Paul Jacobson said on Tuesday the company will spend about $2 billion on its self-driving taxi fleet Cruise this year.

Benzinga

GM continues to book profit amid headwinds, looks to execute EV strategy

General Motors Co. CEO Mary Barra says the company is in "execution mode" for its electric vehicles and again touted its plans while reporting a first-quarter profit Tuesday — the same day crosstown rival Ford Motor Co. celebrated the launch of its electric F-150.

Tribune News Service

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