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The Latest Breaking News from Mary Barra

With Auto Strike Over, GM Announces Big Share Buybacks

General Motors announced hefty new initiatives Wednesday to return billions of dollars to shareholders, lifting its stock price as it estimated the recent labor strike hit at $1.1 billion.

International Business Times

GM boss Mary Barra’s high-tech bet unraveling after Kyle Vogt departs as CEO of embattled Cruise robotaxi unit

Kyle Vogt departs the company he founded, marking a stunning fall from grace for a tech startup that only this summer celebrated a major victory for the fledgling industry.

Fortune

GM’s Cruise CEO resigns amid concerns over driverless car safety

Kyle Vogt exits as Twitch co-founder Emmett Shear appointed as interim boss of OpenAI

The Guardian - UK

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Taxpayers Bankroll Electric Vehicles Even as Fewer People Buy Them

Ford and General Motors have tempered plans for E.V. production, but governments still spend billions of dollars in incentives.

Reason

California hits pause on GM Cruise self-driving cars due to safety concerns

Decision is latest instance of regulatory agencies expressing concern over safety of autonomous vehicles.

Al Jazeera

GM Ditches Goal Of Building 400,000 EVs In North America Through Mid-2024

GM is reworking its North America EV strategy and will no longer challenge Tesla's lead in the US EV segment amid slowing EV sales growth, higher labor costs.

InsideEVs

GM’s Mary Barra is charging ahead on EVs and navigating the UAW auto strike. It’s a valuable lesson in playing the long game

Barra is an example of an executive who has found success by sticking to her mission.

Fortune

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A Raise for Auto Workers May Imperil Biden's Electric Vehicle Ambitions

The president voiced support for the union's goals on the picket line but companies are already struggling to build fuel-efficient cars that Biden wants to prioritize.

Reason

Biden is right to praise the auto strike. His climate agenda depends on it

The president has a golden opportunity to prove that green jobs will bear dividends for the working class

The Guardian - US

The UAW Strike Could Get Nasty: Use Friday’s Unusual Options Activity to Profit

The UAW strike spread to 5,600 more workers on Friday as they walked off the job at 38 General Motors and Stellantis parts distribution centers in 20 states. In midday trading, investors are taking it all in stride.

Barchart

General Motors CEO confronted over her own $29m salary amid UAW strike

Union argues wage rises haven’t matched company profits

The Independent UK

UAW justifies wage demands by pointing to CEO pay raises. So how high were they?

The United Auto Workers union has made CEO pay a central part of their argument for a big worker wage increase

The Independent UK

‘We build those cars’: US workers on Ford picket line demand a fair share

Horns blare in support of strikers outside the carmakers’ plant in Wayne, Michigan, as union members attack ‘corporate greed’

The Guardian - US

UAW goes on strike for first time ever

"CEOs gave themselves 40% pay increases in the last four years," United Auto Workers president Shawn Fain said

Salon

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Barchart

UAW Strikes: Unusual Options Activity Suggests Investors Don’t Care

The United Auto Workers went on strike at midnight Friday. It is the first time the UAW has simultaneously walked out at all three of Detroit’s big automakers. The unusual options activity for the three automaker’s stocks suggests investors don’t care. That may change.

WEKU

The UAW launches a historic strike against all Big 3 automakers

For the first time ever, the UAW launched a strike against all Big 3 automakers at once, starting with three locations in the Midwest.

WEKU

Autoworkers are on the verge of a historic strike

Less than two hours before the strike deadline, United Auto Workers revealed the first wave of plants to be targeted if the union and the Big 3 automakers fail to reach a deal just before midnight.

WEKU

Sky-high CEO pay is in focus as workers everywhere are demanding higher wages

As autoworkers' real wages fall, top executives at the Big Three carmakers continue to earn tens of millions of dollars each year — hundreds of times more than the median employee.

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InsideEVs

Hertz To Add Cadillac Lyriq And Chevrolet Silverado EV To Fleet Soon

A video featuring Hertz CEO Stephen Scherr and GM CEO Mary Barra reveals that the rental company expects to receive the first Silverado EV trucks in 2023-2024.

Zenger

GM’s Strong Q2 Results Overshadowed By Cost-Cutting Measures, Raising Concerns For EV Strategy

General Motors reports better-than-expected earnings, but cost-cutting measures cast doubt on EV plans.

Inverse

Chevy Says a New Bolt EV Is on the Way

GM’s Mary Barra said that the company is working on updating the Chevy Bolt EV with the Ultium platform.

InsideEVs

Next-Gen Chevrolet Bolt Confirmed: Will Utilize Ultium Tech

Chevrolet has just confirmed that a next-generation Bolt is in the works and that it will use the advanced Ultium tech.

Zenger

Is Toyota Ready To Take On Tesla For Electric Vehicle Lead? ‘I Don’t Know If Love Can Beat Tesla’

Some have begun to work with Tesla and become more aligned on global electric vehicle growth ambitions.

InsideEVs

GM CEO Mary Barra: 2024 Will Be “Dramatically Different” For The Company

The GM CEO Mary Barra discussed Tesla NACS, production delays, Elon Musk and the future outlook for GM brands at a recent NBCUniversal event

Zenger

GM CEO Views Tesla’s Musk As Both Competitor And Partner

GM and Tesla have teamed up for EV charging, but the two companies are still competing for market share in the space.

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