GM Cruise gets $1.15 billion investment from group including SoftBank fund

(Reuters) – General Motors Co’s majority-owned Cruise self-driving car unit said on Tuesday it received a $1.15 billion investment from a consortium of investors, valuing the subsidiary at $19 billion. The investment was funded by T. Rowe Price Associates Inc, and existing Cruise partners General Motors, SoftBank Vision Fund and Honda. Source: Read Full Article

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GM defends US investment following Trump jabs over Ohio plant

Will Trump’s pressure on GM cause a reversal at the Ohio plant? Washington Examiner writer Tiana Lowe on President Trump’s criticism of General Motors over the automaker’s decision to close its plant in Lordstown, Ohio and the potential impact of Trump’s threat of more auto tariffs. U.S. automaker General Motors reiterated its commitment to its U.S. employees and manufacturing efforts […]

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Canadian auto union faces Catch-22 in General Motors fight

TORONTO (Reuters) – Jerry Dias, the leader of Canada’s auto union, is unsparing in his rhetorical attacks on General Motors Co’s decision to close its Oshawa, Ontario, assembly plant and lay off thousands of union workers by year-end. But when it comes to action, Unifor’s president has been far more circumspect. Dias promised “drastic measures” to compel GM to extend […]

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2019 Forecasts Show GM Has an Edge on Fiat Chrysler

Fiat Chrysler (NYSE: FCAU) shares soared between mid-2016 and early 2018, as investors grew comfortable with the company's turnaround plan. Fiat Chrysler has slashed production of low-margin cars while leaning on its lucrative Jeep and Ram brands for growth. These efforts have succeeded for the most part, as Fiat Chrysler recently reported a record adjusted operating profit (6.7 billion euros) […]

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GM Cruise chief could earn $25 million in long-term incentives

DETROIT (Reuters) – The head of General Motors Co’s Cruise self-driving car unit stands to make more than $25 million over the next decade if the technology subsidiary experiences a change in ownership or is listed publicly, according to a regulatory filing on Wednesday. Dan Ammann, who stepped down as GM’s president and was named chief executive of Cruise at […]

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GM Warns Unifor To Cease Publication Of Super Bowl Ad

Despite objections from General Motors Co. (GM), Canada’s largest private sector union Unifor has said it will move forward with airing a television commercial that is critical of the automaker during the Super Bowl. Unifor represents Canadian employees at GM’s car assembly plant at Oshawa, Ontario. About 2,500 of Unifor’s unionized workers at Oshawa will eventually lose their jobs as […]

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