Latest News Updates From David Welch

BusinessTechnologyEquipment

Hertz Reports $392 Million Loss

Hertz reported a loss that was nearly three times worse than analysts expected as it accelerated sales of electric vehicles to reduce its fleet of Tesla models that have weighed on profits.

April 25, 2024
BusinessFuel

Fisker Mulls Bankruptcy After Talks With Automaker Collapse

Struggling electric vehicle startup Fisker Inc. said it needs to renegotiate terms for recent financing or face the possibility of filing for bankruptcy protection.

March 25, 2024
BusinessTechnologyEquipment

Struggling Battery Factory Is Behind GM’s EV Problems

General Motors Co. is racing to fix problems in its electric vehicle business to make good on promises CEO Mary Barra made five years ago. It still has a long way to go.

March 19, 2024
BusinessTechnology

GM Resumes Blazer EV Sales

General Motors said it will resume sales of its Chevrolet Blazer EV almost three months after grounding the vehicle due to software issues that could cause charging problems.

March 8, 2024
BusinessTechnology

Hertz Plans Cost Cuts After Earnings Miss on EV Adjustment

Hertz Global Holdings Inc. is looking to cut costs after it missed analysts’ fourth-quarter estimates as it sold down its fleet of Tesla Inc. electric vehicles.

February 6, 2024
GovernmentBusinessTechnologyAutonomous

Cruise Lays Off 900, Multiple Executives as Fallout Worsens

Cruise LLC, the autonomous vehicle unit owned by General Motors Co., is cutting 24% of its workforce, extending a sweeping overhaul of the business after dismissing nine top executives.

December 14, 2023
BusinessTechnology

GM’s All-Electric Pledge Hinges on Demand, CEO Barra Says

General Motors Co.’s pledge to have an all-electric fleet by 2035 hinges on consumer acceptance, Chief Executive Officer Mary Barra said.

December 5, 2023
GovernmentBusinessTechnologySafetyAutonomous

Cruise Could Face Fines for Allegedly Misleading Regulators

Cruise, the self-driving vehicle unit of General Motors, could face a fine for allegedly misleading regulators about an incident in which one of its cars dragged a pedestrian.

December 4, 2023
GovernmentBusinessEquipment

GM Reaches Tentative Deal With UAW to End Strike

General Motors Co. reached a tentative agreement with the United Auto Workers, according to people familiar with the matter, bringing an end to a 6-week-old strike.

October 30, 2023
BusinessEquipmentFuel

GM Delays Electric Pickup Truck Expansion Amid Slower Growth

General Motors Co. will delay the opening of its second electric truck plant in Michigan to preserve capital amid a slowdown in sales growth for electric vehicles.

October 17, 2023