Posts filtered by tags: General-motors[x]


 

Insider Transportation: Nikola's rebuttal, Uber's fight for its life, and safety data for wary air travelers

CEO and founder of U.S. Nikola Trevor Milton attends a news conference held to presents its new full-electric and hydrogen fuel-cell battery trucks in partnership with U.S. Nikola, at an event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca Nikola, the electric-truck startup that found itself in a full-throated yelling match with a short-seller last Thursday, has been playing defense this week — and it's not clear if investors are completely convinced.After initially promising a ti...
Tags: London, California, US, Trends, General Motors, Bloomberg, Netflix, House, Arizona, Delta, The New York Times, Faa, Boeing, Financial Times, Airline, Cadillac


Cadillac's answer to Tesla's Autopilot, Super Cruise, will cost $25 per month after its 3-year trial period

Super Cruise enables hands-free driving on more than 200,000 miles of compatible highways in the United States and Canada. General Motors Super Cruise is General Motors' answer to Tesla's Autopilot: an advanced driver-assistance feature. The first three-year trials of Super Cruise, launched in late 2017, expire soon, and GM will begin charging customers a subscription fee to keep the technology activated. The standalone subscription cost for Super Cruise will be $25 per month. Visit Busine...
Tags: Transportation, US, Trends, General Motors, Tesla, United States, Gm, Autos, Bmw, Cadillac, Tesla Autopilot, Cadillac CT6, Cadillac Escalade, Tech Insider, Kristen Lee, Super Cruise


'It's my fault': An early Nikola investor says the startup went public too soon as it grapples with accusations of fraud

Jeffrey Ubben, the founder of the activist investor firm Value Act, holds a five percent stake and a board seat of Nikola. REUTERS/Andrew Kelly A Nikola investor and board member is defending the startup against fraud accusations from a short-seller that have caused its stock to sink dramatically.  Jeffrey Ubben, who founded the investment firm Value Act, says the startup went public too quickly.  The real story, he told Bloomberg and the Financial Times, is in Nikola's plans for hydrogen ...
Tags: Transportation, Trends, General Motors, Bloomberg, Ford, Electric Vehicles, Trevor, Hydrogen, Financial Times, Ubben, Nikola, Jeffrey Ubben, Graham Rapier, Business News Desk, Value Act, Nikola REUTERS Andrew Kelly A Nikola


More Dealer Drama from Cadillac and the China Connection [Updated: Cadillac Responds]

Cadillac told U.S. and Chinese dealers they will each need to invest at least $200,000 on electric vehicle chargers and staff training to continue selling the brand’s products after 2022. The message was communicated to dealerships on Wednesday via video messages from Rory Harvey, the luxury brand’s vice president of sales, service and marketing. Cadillac […] The post More Dealer Drama from Cadillac and the China Connection [Updated: Cadillac Responds] appeared first on The Truth About Cars.
Tags: China, Sales, General Motors, Electric Vehicles, Autos, Sales And Marketing, EVs, Cadillac, News Blog, Dealer News, Chinese Market, North American market, Dealer Upgrades, Cadillac Responds, Rory Harvey


Meet the 15 richest people in Africa who have a collective net worth of over $73 billion

Patrice Motsepe, who is one of the richest men in South Africa with a net worth of $2.2 billion. Pacific Press / Contributor / Getty Images The 15 richest people in Africa have a combined net worth of over $73 billion.  Topping the list is Aliko Dangote, owner of the largest conglomerate in West Africa, who has a net worth $13.5 billion.  The richest woman in Africa is technically Isabel dos Santos, who made her fortune with various investments in Angolan companies while her father was pre...
Tags: Europe, London, Money, Life, Nigeria, Africa, Trends, General Motors, Wealth, Adidas, Bloomberg, Features, Egypt, South Africa, Morocco, Tencent


GM Files State Lawsuits Against FCA Over Racketeering Claims

General Motors refuses to let the dismissal of its federal racketeering case against Fiat Chrysler Automobiles stand in the way of getting what it believes is true justice. On Monday, the automaker filed its latest claim with Wayne County Circuit Court in Michigan. These are separate from the New Jersey lawsuit it has targeting former […] The post GM Files State Lawsuits Against FCA Over Racketeering Claims appeared first on The Truth About Cars.
Tags: General Motors, New Jersey, Fca, Gm, Lawsuits, Autos, Automotive Industry, Michigan, Bribery, Industry News, Fiat Chrysler Automobiles, UAW, Wayne County Circuit Court, News Blog, Union News, Hot Legal Action


Nikola surges 15% from intraday lows as JPMorgan analyst defends company following CFO meeting

REUTERS/Massimo Pinca Nikola reversed from intraday lows and rallied as much as 15% on Wednesday after JPMorgan defended the company following a discussion with Nikola management."The overall message was reassuring: no loss of momentum with existing partners, prospective customers, suppliers and employees," JPMorgan analyst Paul Coster said in a note on Wednesday.Nikola has ping-ponged back and forth over the past week after a short-seller report helped deflate stock gains associated with ...
Tags: Finance, Trends, General Motors, Markets, Electric Vehicles, SEC, Stocks, Stock Market, EVs, Doj, Bosch, Jpmorgan, Brady, SPAC, Nikola, Hindenburg


Nikola faced fraud allegations upon announcing a $2 billion deal with General Motors, but GM doesn't seem worried

Massimo Pinca/Reuters Almost immediately after Nikola and GM announced a strategic partnership, with GM taking a stake in the startup, Nikola came under attack from short-sellers. Hindenburg Research alleged that Nikola is a fraud, but GM CEO Mary Barra stressed that GM had done its homework. Nikola is a high-risk venture that's trying to shed some execution risk by partnering with GM to build a pickup truck while Nikola focuses on semitrucks. Until Nikola starts selling vehicles, it's a ...
Tags: Transportation, Elon Musk, Opinion, France, Ipo, US, Trends, General Motors, Tesla, Bloomberg, David, Ford, Mary Barra, Auto Industry, Gm, SEC


Nikola slides another 7% after Justice Department joins SEC in fraud probe

Nikola founder and executive chairman Trevor Milton. Massimo Pinca/Reuters Nikola's stock price tanked up to 8% in pre-market trade on Wednesday after the US Justice Department joined the SEC in probing fraud claims against the company. The SEC announced this week it will investigate the electric truck-maker for "intricate fraud".The company's stock has had a volatile week, including jumping on news of a $2 billion deal with General Motors and tanking on a scathing short-seller report by Hi...
Tags: Congress, Trends, General Motors, Bloomberg, SEC, Morgan Stanley, Wall Street Journal, Justice Department, Securities And Exchange Commission, U S Securities and Exchange Commission, US Justice Department, Nikola, Hindenburg, Manhattan U S, Hindenburg Research, Saloni Sardana


Department of Justice reportedly joins SEC in looking into Nikola after a short-seller accused the startup of fraud

Nikola founder Trevor Milton attends a news conference held to presents its new full-electric and hydrogen fuel-cell battery trucks in partnership with U.S. Nikola, at an event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca The Department of Justice is also making inquiries into allegations of fraud at electric-truck startup Nikola, the Financial Times reported Tuesday. Nikola didn't respond to a request for comment about the report.  The paper also confirmed earlier reports that...
Tags: Transportation, US, Trends, General Motors, Bloomberg, SEC, Department Of Justice, Doj, Financial Times, Securities And Exchange Commission, Short Sellers, Kirkland Ellis, US Department of Justice, Turin Italy, Nikola, Hindenburg


Electric truck startup Nikola hits back at short seller's report

Nikola ​Corp., a hydrogen and electric truck startup that recently inked a $2 billion stock deal with General Motors, responded Monday to a short seller's report that sent the company's stock plunging last week.
Tags: General Motors, Cnn, Nikola, Nikola Corp


General Motors CEO says the company stands by its Nikola deal as the startup's short-seller fight intensifies

General Motors Chief Executive Officer Mary Barra announces a major investment focused on the development of GM future technologies at the GM Orion Assembly Plant in Lake Orion, Michigan, U.S. March 22, 2019. REUTERS/Rebecca Cook General Motors CEO Mary Barra said Monday that the automaker did "appropriate diligence" before inking a deal with Nikola Motors earlier this month.  The comments came when asked about allegations by a short-seller last week that Nikola and its founder have deceiv...
Tags: Transportation, News, Germany, Trends, General Motors, Mary Barra, Arizona, Gm, SEC, Trevor, Bosch, Rbc, Bloomberg News, Wedbush, Lake Orion Michigan, Barra


Nikola slides 6% on SEC probe over short-seller claims the company misled investors through 'intricate fraud' and 'deception'

REUTERS/Massimo Pinca Nikola shares fell 6% in premarket trading on Tuesday after the Securities and Exchange Commission said it will investigate a short-seller's claims the company misled investors through "intricate fraud" and "deception."Short-selling investment firm Hindenburg Research released a lengthy report last week in which it said the electric-vehicle startup overstated the capabilities of its first trucks.The report followed Nikola's announcement of a $2 billion deal with Gener...
Tags: Trends, General Motors, Bloomberg, SEC, Morgan Stanley, Securities And Exchange Commission, Reuters, U S Securities and Exchange Commission, Nikola, Hindenburg, Hindenburg Research, Shalini Nagarajan, Fred Stanske, REUTERS Massimo Pinca Nikola


The SEC is probing Nikola Motors over short-seller's claims the company misled investors and is an 'intricate fraud'

Nikola founder and executive chairman Trevor Milton. Massimo Pinca/Reuters The Securities and Exchange Commission is looking into whether electric-truck maker Nikola Motors misled investors, Reuters reported Monday and the company confirmed to Business Insider. The probe follows a detailed report last week from short-seller Hindenburg Research accusing Nikola of "intricate fraud" and "deception" by overstating the capabilities of its trucks. Nikola's stock plummeted as much as 25% followin...
Tags: Trends, General Motors, SEC, Securities And Exchange Commission, Reuters, Milton, Nikola, US Securities and Exchange Commission, Hindenburg, U S Securities and Exchange Commission SEC, Trevor Milton, NKLA, Nikola Motors, Hindenburg Research, Tyler Sonnemaker, Trevor Milton Massimo Pinca


Watch the Cybertruck's upcoming Hummer EV competitor use its 'Crab Mode' feature to crawl diagonally across sand

GMC Hummer EV Crab Mode. Screenshot courtesy of GMC The GMC Hummer EV will be a 1,000-horsepower, all-electric “super truck.” A new teaser released on Monday shows its “Crab Mode” — utilizing the four-wheel steering to drive diagonally. The Hummer EV will officially debut on October 20. Visit Business Insider's homepage for more stories. Didn't you hear? General Motors is bringing back the Hummer nameplate as the GMC Hummer — a 1,000-horsepower, all-electric "super truck." Not much more is...
Tags: Transportation, Trends, General Motors, Gm, Autos, EVs, Gmc, Hummer, Detroit Hamtramck, Kristen Lee, Electric trucks, GMC Hummer EV, Hummer EV, GMC Hummer, BITranspo, GMC YouTube Crab Mode


The Hummer EV is getting a ‘Crab Mode’ to drive diagonally

General Motors has set an October 20 unveiling for the GMC Hummer EV, which will come with a feature named Crab Mode that will allow it to move diagonally.
Tags: News, Cars, Trends, General Motors, Electric pickup trucks, GMC Hummer EV, Hummer EV


Nikola is a 'story stock' that can jump 40% if CEO Trevor Milton executes, Wedbush says

CEO and founder of U.S. Nikola Trevor Milton attends a news conference held to presents its new full-electric and hydrogen fuel-cell battery trucks in partnership with U.S. Nikola, at an event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca Nikola is a story stock that can surge 40% if CEO Trevor Milton and team can execute on its long-term opportunity, Wedbush said in a note on Monday.The last week has been mixed (and volatile) for Nikola investors, after the company's $2 billion ...
Tags: Trends, General Motors, Arizona, Wedbush, Turin Italy, Nikola, Matthew Fox, Trevor Milton, Hindenburg Research, Nikola Trevor Milton, Massimo Pinca Nikola, Hindenburg Research Nikola, Nikola Following the General Motors


Nikola publishes detailed rebuttal to short-seller's claims of deception — and admits it staged a promo video by rolling a truck down a hill

CEO of Italian-American CNH Industrial Hubertus Muhlhauser and Nikola founder Trevor Milton attends a news conference held to presents the company's new full-electric and hydrogen fuel-cell battery trucks in partnership at an event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca Nikola on Monday released its promised rebuttal to claims from a short-seller that the company lied and decieved investors.  The company admitted its Nikola One prototype was largely inoperable, and th...
Tags: Transportation, News, Trends, General Motors, Electric Vehicles, CNH, Jpmorgan, Company, Bloomberg News, Milton, Turin Italy, Nikola, Hindenburg, Tech Insider, Trevor Milton, Ulm Germany


American businesses are raking in billions from the prison-industrial complex. It's time to get serious about dismantling this disgusting system.

getty The criminal justice system disproportionately incarcerates minorities and people of color. Thousands of businesses profit off of this process. The only path to ending the prison industrial complex is for these businesses to divest from it. Ashish Prashar is the Sr. Director of Global Communications for Publicis Sapient. This is an opinion column. The thoughts expressed are those of the author. Visit Business Insider's homepage for more stories. We have an incarceration crisis in Am...
Tags: New York, Texas, Minnesota, California, US, America, Trends, General Motors, United States, South Africa, Jim Crow, Stanley Black Decker, Global Communications, Sherwin Williams, Publicis Sapient, Ashish Prashar


New Tesla challengers are scoring huge investments, but Nikola, Rivian, and Lucid may arrive too late to gain ground in the electric car market

Tesla got to where it is the hard way, with a modest 2010 IPO that raised around $260 million, followed by a decade of slogging through what CEO Elon Musk has often called "production hell." Maurizio Pesce A batch of electric-vehicle startups — such as Lucid, Rivian, and Fisker — has launched exciting new vehicles and attracted billions in investment. The traditional auto industry is also shifting to EVs and taking stakes in startups: GM acquired an 11% share in Nikola last week. Everyone ...
Tags: Europe, Elon Musk, China, US, Trends, General Motors, Tesla, Porsche, Ocean, Ford, Mary Barra, Gm, Silicon Valley, Toyota, Air, Henrik Fisker


EV startup Nikola's stock plunges following short seller's scathing allegations

Nikola ​Corp. the hydrogen and electric truck startup that recently announced a $2 billion stock deal with General Motors, saw its stock price plunge for the second day in a row following a report by a short seller that alleged the company is an "intricate fraud." The company has since disputed the report and threatened to take legal action.
Tags: General Motors, Cnn, Nikola, Nikola Corp


Nikola sinks another 18% as Citron Research calls it a 'total fraud' and investors shun a rebuttal of the original short-seller report

Trevor Milton, the CEO and founder of Nikola. REUTERS/Massimo Pinca Nikola shares sank as much as 18% on Friday after Citron Research followed Hindenburg Research in accusing the automaker of fraudulent activity.The slide extended losses that began after Hindenburg published a report on Thursday accusing Nikola of overhyping its products and filling order books "with fluff." Nikola stock fell 11% in Thursday trading.Citron congratulated Hindenburg in a Friday tweet, saying it was "exposing ...
Tags: Trends, General Motors, Tesla, Credit Suisse, Gm, Securities And Exchange Commission, Kirkland Ellis, Stifel, Citron, Nikola, Citron Research, Michael Hintze, Hindenburg, Trevor Milton, Hindenburg Research, Ben Winck


Insider Transportation: Lucid's newly revealed Air could whoop Tesla's Model S — if the startup can crack the marketing game

Specs that rival anything Tesla can produce won't matter much if Lucid can't crack the marketing game. Lucid The physical distancing that is the hallmark of the age of the novel coronavirus may mean automakers can't throw glitzy parties to mark the debut of new vehicles, but that limitation (and the distinct lack of hors d'oeuvres) didn't dampen our enthusiasm when we finally got to see the new Lucid Air EV on Wednesday evening. That's because nearly a decade after the Model S made ...
Tags: Transportation, Elon Musk, Germany, Africa, US, Trends, General Motors, Tesla, Porsche, Hawaii, Gm, Airbus, Air, Audi, United, Jetblue


Nikola sinks another 18% as Citron Research calls it a 'total fraud' and investors shun rebuttal of original short-seller report

CEO and founder of U.S. Nikola Trevor Milton attends a news conference held to presents its new full-electric and hydrogen fuel-cell battery trucks in partnership with U.S. Nikola, at an event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca Nikola shares sank as much as 18% on Friday after Citron Research followed Hindenburg Research in accusing the automaker of fraudulent activity.The slide extends losses that began after Hindenburg published a report slamming Nikola for overhypin...
Tags: Trends, General Motors, Tesla, Credit Suisse, Gm, Berkshire Hathaway, Securities And Exchange Commission, Kirkland Ellis, Citron, Turin Italy, Nikola, Citron Research, Michael Hintze, Hindenburg, Trevor Milton, Hindenburg Research


Nikola threatens legal action against a short-seller who accused the electric truck startup and its founder of fraud

CEO and founder of U.S. Nikola Trevor Milton attends a news conference held to presents its new full-electric and hydrogen fuel-cell battery trucks in partnership with U.S. Nikola, at an event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca Nikola said that it's mulling legal action against a short-seller who accused the company and its founder of fraud and nepotism.  Shares of the electric truck maker have fallen nearly 25% since Thursday after the report by Hindenburg Research. ...
Tags: Transportation, News, Trends, General Motors, Securities And Exchange Commission, Short Sellers, Milton, Turin Italy, Nikola, Hindenburg, Tech Insider, Trevor Milton, Graham Rapier, Hindenburg Research, Nikola Trevor Milton, Business News Desk


Nikola threatened legal action against a short-seller who accused the electric truck startup and its founder of fraud

CEO and founder of U.S. Nikola Trevor Milton attends a news conference held to presents its new full-electric and hydrogen fuel-cell battery trucks in partnership with U.S. Nikola, at an event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca Nikola said that it's mulling legal action against a short-seller who accused the company and its founder of fraud and nepotism.  Shares of the electric truck maker have fallen nearly 20% since Thursday after the report by Hindenburg Research. ...
Tags: Transportation, News, Trends, General Motors, Securities And Exchange Commission, Short Sellers, Milton, Turin Italy, Nikola, Hindenburg, Tech Insider, Trevor Milton, Graham Rapier, Hindenburg Research, Nikola Trevor Milton, Business News Desk


AMERICAN RESILIENCE: How 5 industries bounced back from 9/11, hurricanes, and the Great Recession — and what their success can teach us about hope after the coronavirus

Rebecca Cook/Reuters; Joe Raedle/Getty Images; Noam Galai/Getty Images; Craig Warga/NY Daily News Archive via Getty Images; Porter Gifford/Corbis via Getty Images; Samantha Lee/Business Insider The coronavirus pandemic has devastated the American economy. But the US is a resilient country, and we have recovered from tragedy in the past. 19 years ago, terrorists hijacked four airplanes, crashing two into the World Trade Center, one into the Pentagon, and one in rural Pennsylvania. The Sept...
Tags: New York, Obama, Congress, California, New York City, US, America, San Francisco, Trends, General Motors, Cnn, Getty Images, Austin, Brooklyn, Pennsylvania, United States


GM Can Manage an EV's Batteries Wirelessly -- and Remotely

An anonymous reader quotes a report: IEEE Spectrum got an exclusive look at General Motors' wireless battery management system. It's a first in any EV anywhere (not even Tesla has one). The wireless technology, created with Analog Devices, Inc., will be standard on a full range of GM EVs, with the company aiming for at least 1 million global sales by mid-decade. Those vehicles will be powered by GM's proprietary Ultium batteries, produced at a new US $2.3 billion plant in Ohio, in partnership wi...
Tags: South Korea, US, Tech, General Motors, Tesla, Gm, Ohio, Analog Devices Inc, LG Chem


Cadillac Enhances 2021 CT4, CT5 With Digital Delights

Cadillac is upping the ante on the CT4 and CT5 for the 2021 model year. As both cars were introduced last year and the upgrades represent fairly comprehensive changes to both vehicles, this refresh is quite curious. Either General Motors spent the pandemic being more productive than we initially presumed or this is a desperate […] The post Cadillac Enhances 2021 CT4, CT5 With Digital Delights appeared first on The Truth About Cars.
Tags: General Motors, Gm, Autos, Cadillac, News Blog, Super Cruise, V-Series, CT5, Ct4


Nikola plummets 13% after short-seller report alleges years of deception and false statements by CEO

Trevor Milton, Nikola's founder and executive chairman. Massimo Pinca/Reuters Nikola plummeted on Thursday after a short-seller report from Hindenburg Research alleged that the company and its CEO, Trevor Milton, had made false statements overhyping its technological capabilities.The Hindenburg report came two days after General Motors announced a $2 billion partnership with the electric-vehicle manufacturer, sending shares of Nikola up nearly 50%.Hindenburg was short shares of Nikola w...
Tags: Congress, Trends, General Motors, Tesla, Morgan Stanley, Milton, Stifel, Worthington, Tom Lee, Badger, Nikola, Hindenburg, Matthew Fox, ValueAct, Trevor Milton, Hindenburg Research