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Found 338 results

  1. The UAW has been striking against General Motors for 31 days, the longest work stoppage since the 1970s. Now news comes that GM and the Union have reached a tentative agreement and the union council will vote today on whether to end the walkout of 46,000 workers or wait until the agreement is ratified by union members. The Union and GM plan to discuss the deal after the vote has taken place. We will update this article as more news comes. Update 1:20 pm: Healthcare remains as-is. Temporary employees have a path to full employment All current hourly workers will receive raises to at least $32.32 by the end of the contract term Wages subject to increases of 3% a year New hires reach full pay in 4-years instead of the current 8-years $11,000 signing bonus for full-time hourly workers Detroit-Hamtramck (Cadillac CT6, Chevrolet Impala) remains open. Lordstown and two transmission plants in Maryland and Michigan remain closed. Employees from closed plants can retire early or opt for a $75,000 buyout. Workers who retire early will receive a $60,000 bonus and start collecting pension in January or February. View full article
  2. As part of General Motors' tentative agreement with the United Auto Workers, there is a planned $3 billion investment into the Detroit-Hamtramck plant to make electric trucks, SUVs, and vans. The program, called BT1 is part of a larger $7.7 billion investment in GM's plants over the next four years. The BT1 program includes an electric truck for GMC and an electric SUV for Cadillac for the 2023 model year. But before that happens, in 2021 a low volume BT1 pickup will start production under a different brand while a performance truck follows in 2022, and then an electric SUV in 2023. Rumor has it that these low volume BT1 vehicles could be sold under the Hummer brand, not used since 2010, but that decision has not been finalized. If GM did bring the Hummer brand back as an EV brand, it would have instant name brand recognition and a leg up on rival startup Rivian who has a truck due out in 2020. GM would not need to spend as much money to market the brand. The vehicles on the new BT1 platform would use a "skateboard" architecture that bundles the batteries and electric motor together. The architecture is highly flexible allowing GM to build vehicles in front, rear, or all-wheel drive configurations. View full article
  3. As part of General Motors' tentative agreement with the United Auto Workers, there is a planned $3 billion investment into the Detroit-Hamtramck plant to make electric trucks, SUVs, and vans. The program, called BT1 is part of a larger $7.7 billion investment in GM's plants over the next four years. The BT1 program includes an electric truck for GMC and an electric SUV for Cadillac for the 2023 model year. But before that happens, in 2021 a low volume BT1 pickup will start production under a different brand while a performance truck follows in 2022, and then an electric SUV in 2023. Rumor has it that these low volume BT1 vehicles could be sold under the Hummer brand, not used since 2010, but that decision has not been finalized. If GM did bring the Hummer brand back as an EV brand, it would have instant name brand recognition and a leg up on rival startup Rivian who has a truck due out in 2020. GM would not need to spend as much money to market the brand. The vehicles on the new BT1 platform would use a "skateboard" architecture that bundles the batteries and electric motor together. The architecture is highly flexible allowing GM to build vehicles in front, rear, or all-wheel drive configurations.
  4. The UAW has been striking against General Motors for 31 days, the longest work stoppage since the 1970s. Now news comes that GM and the Union have reached a tentative agreement and the union council will vote today on whether to end the walkout of 46,000 workers or wait until the agreement is ratified by union members. The Union and GM plan to discuss the deal after the vote has taken place. We will update this article as more news comes. Update 1:20 pm: Healthcare remains as-is. Temporary employees have a path to full employment All current hourly workers will receive raises to at least $32.32 by the end of the contract term Wages subject to increases of 3% a year New hires reach full pay in 4-years instead of the current 8-years $11,000 signing bonus for full-time hourly workers Detroit-Hamtramck (Cadillac CT6, Chevrolet Impala) remains open. Lordstown and two transmission plants in Maryland and Michigan remain closed. Employees from closed plants can retire early or opt for a $75,000 buyout. Workers who retire early will receive a $60,000 bonus and start collecting pension in January or February.
  5. QUARTER 3 (CALENDAR YEAR-TO-DATE) JANUARY - SEPTEMBER 2019 2018 %Change Volume 2019 2018 %Change Volume Cascada 400 1,101 -63.7 2,458 3,393 -27.6 Enclave 13,274 12,807 3.6 41,013 35,227 16.4 Encore 25,008 21,112 18.5 73,905 69,747 6.0 Envision 8,088 5,803 39.4 24,849 22,617 9.9 LaCrosse 1,389 2,290 -39.3 6,778 13,409 -49.5 Regal 2,456 2,793 -12.1 8,849 11,008 -19.6 Buick Total 50,615 45,911 10.2 157,855 155,606 1.4 ATS 158 2,281 -93.1 1,051 10,028 -89.5 CT6 1,625 2,376 -31.6 5,675 7,270 -21.9 CTS 1,128 3,695 -69.5 5,999 8,777 -31.7 Escalade 10,284 9,533 7.9 26,535 27,299 -2.8 XT4 8,986 212 ***.* 23,092 212 ***.* XT5 12,315 15,093 -18.4 38,711 46,983 -17.6 XT6 4,316 0 ***.* 4,390 0 ***.* XTS 1,149 4,101 -72.0 10,242 12,664 -19.1 Cadillac Total 39,961 37,291 7.2 115,695 113,240 2.2 Blazer 20,312 0 ***.* 35,107 0 ***.* Bolt EV 4,830 3,949 22.3 13,111 11,807 11.0 Camaro 12,275 14,448 -15.0 36,791 39,828 -7.6 Colorado 31,657 34,963 -9.5 96,820 104,838 -7.6 Corvette 4,766 4,639 2.7 14,497 14,881 -2.6 Cruze 5,799 31,971 -81.9 45,276 109,662 -58.7 Equinox 79,799 78,014 2.3 253,956 234,379 8.4 Express 22,062 17,509 26.0 60,805 58,696 3.6 Impala 9,638 16,290 -40.8 35,433 43,952 -19.4 LCF 1,358 584 132.5 3,222 1,870 72.3 Malibu 32,432 31,041 4.5 97,603 107,458 -9.2 Silverado HD 34,212 31,939 7.1 95,249 108,410 -12.1 Silverado LD 119,641 101,390 18.0 314,067 315,993 -0.6 Silverado MD 1,629 0 ***.* 2,943 0 ***.* Sonic 2,148 7,283 -70.5 10,632 17,848 -40.4 Spark 6,616 7,029 -5.9 20,265 18,428 10.0 Suburban 12,391 15,572 -20.4 41,686 45,433 -8.2 Tahoe 26,308 28,951 -9.1 80,103 79,474 0.8 Traverse 41,116 32,908 24.9 113,491 106,998 6.1 Trax 37,407 20,549 82.0 83,777 67,538 24.0 Volt 874 5,429 -83.9 4,540 13,243 -65.7 Chevrolet Total 507,273 485,019 4.6 1,459,521 1,504,038 -3.0 Acadia 20,338 13,485 50.8 79,958 63,493 25.9 Canyon 7,437 8,425 -11.7 26,300 25,273 4.1 Savana 5,021 4,815 4.3 21,090 16,779 25.7 Sierra HD 18,455 16,817 9.7 41,643 43,839 -5.0 Sierra LD 47,743 34,551 38.2 121,958 108,403 12.5 Terrain 23,058 27,428 -15.9 73,410 82,719 -11.3 Yukon 18,737 20,896 -10.3 53,707 55,418 -3.1 GMC Total 140,789 126,417 11.4 418,066 395,924 5.6 GM Vehicle Total* 738,638 694,638 6.3 2,151,137 2,168,808 -0.8 76 selling days for the third quarter this year and 76 for same quarter last year.
  6. Negotiators have been meeting daily since the UAW went on strike on September 16th and according to sources, the two sides are nearing a deal as talks have intensified over the last 48 hours. All of the issues have reached the "Main Table" and are out of subcommittee which is a sign that a deal is imminent. The initial offer from GM included $7 billion in investments in eight of its US facilities, while also adding 5,400 new jobs. The UAW rejected the initial offer saying that it wasn't enough in terms of pay raises, healthcare, and tenure requirements. GM also offered an $8,000 signing bonus per member to accept the deal. The primary issues are GM's use of temporary workers and the slated closure of a number of plants. If a proposal is reached, the union has to take the proposal to the GM-UAW council and then to team members to approve. It usually takes two weeks for that process, but could be expedited if the UAW decides to keep striking during the voting process. This is the first national strike against GM since 2007 and the longest since the 1970s. The strike is estimated to be costing General Motors $50 million a day. View full article
  7. Lordstown Motors, the outfit affiliated with the hybrid truck manufacturer Workhorse is still aiming to buy the Lordstown assembly facility from General Motors. They have been in talks with GM since the summer and are aiming to build their headquarters in Lordstown because of the availability of the workforce. It would not just include manufacturing, but sales, human resources, and engineering positions would be there too. The plant would be a hub for electric vehicle manufacturing. They want to design and supply EV components not just to GM, but to many manufacturers. Wiring harnesses, electric motors, and other components would all be manufactured at the plant alongside the trucks they intend to build. Along with the workers, LM says that the existing GM supply chain is an advantage as well. Hyperion, a company preparing hydrogen fuel cell vehicles, has signed on as a partner. They are preparing their prototypes and will likely be shown to the public sometime next year. One hiccup now is the talks between the UAW and General Motors. As part of the deal in the works, GM would re-open Lordstown as a battery plant. If that happens, Lordstown Motors would need to find another local facility to locate themselves. View full article
  8. Negotiators have been meeting daily since the UAW went on strike on September 16th and according to sources, the two sides are nearing a deal as talks have intensified over the last 48 hours. All of the issues have reached the "Main Table" and are out of subcommittee which is a sign that a deal is imminent. The initial offer from GM included $7 billion in investments in eight of its US facilities, while also adding 5,400 new jobs. The UAW rejected the initial offer saying that it wasn't enough in terms of pay raises, healthcare, and tenure requirements. GM also offered an $8,000 signing bonus per member to accept the deal. The primary issues are GM's use of temporary workers and the slated closure of a number of plants. If a proposal is reached, the union has to take the proposal to the GM-UAW council and then to team members to approve. It usually takes two weeks for that process, but could be expedited if the UAW decides to keep striking during the voting process. This is the first national strike against GM since 2007 and the longest since the 1970s. The strike is estimated to be costing General Motors $50 million a day.
  9. Lordstown Motors, the outfit affiliated with the hybrid truck manufacturer Workhorse is still aiming to buy the Lordstown assembly facility from General Motors. They have been in talks with GM since the summer and are aiming to build their headquarters in Lordstown because of the availability of the workforce. It would not just include manufacturing, but sales, human resources, and engineering positions would be there too. The plant would be a hub for electric vehicle manufacturing. They want to design and supply EV components not just to GM, but to many manufacturers. Wiring harnesses, electric motors, and other components would all be manufactured at the plant alongside the trucks they intend to build. Along with the workers, LM says that the existing GM supply chain is an advantage as well. Hyperion, a company preparing hydrogen fuel cell vehicles, has signed on as a partner. They are preparing their prototypes and will likely be shown to the public sometime next year. One hiccup now is the talks between the UAW and General Motors. As part of the deal in the works, GM would re-open Lordstown as a battery plant. If that happens, Lordstown Motors would need to find another local facility to locate themselves.
  10. The UAW declared a national strike against General Motors, a first since 2007, after GM failed to reach a deal with union leaders over wages and benefits. A union spokesman said it was a unanimous vote to strike and that the status of the negotiations are unclear. General Motors said that its offer to the UAW included more than $7 billion in U.S. investments, jobs, higher pay, and improved benefits. It included an offer for more than 5,400 jobs, the majority of which would be new. The offer would allocated an electric truck to Detroit-Hamtramck assembly plant and Lordstown would be reopened as a battery assembly plant. The UAW's previous contract with General Motors expired on Saturday at midnight, but workers were told to continue to show up to work under the terms of the prior contract while negotiations were ongoing. Fiat Chrysler Automobiles and Ford Motor Company have extended their current contracts while the GM talks are happening. View full article
  11. General Motors announced a recall Wednesday of 3.46 million GM trucks and SUVs for a braking issue that has been linked to 113 accidents and 13 injuries. The problem arises from a vacuum pump issue where the pump make less vacuum over time, thereby increasing the braking effort. The pump is lubricated by engine oil and can accumulate debris and oil sludge lessening the pump's effectiveness. The recall covered model years 2014 - 2018 of Cadillac Escalade, Chevrolet Silverado, Suburban, and Tahoe, and GMC Sierra and Yukon. GM told the NHTSA that the pump design was only used during those years of manufacture. In a smaller recall, GM is recalling 177,000 2018 Chevrolet Malibus with the 1.5-liter Turbo engine where an error in the engine control computer could disable the fuel injectors. View full article
  12. The UAW declared a national strike against General Motors, a first since 2007, after GM failed to reach a deal with union leaders over wages and benefits. A union spokesman said it was a unanimous vote to strike and that the status of the negotiations are unclear. General Motors said that its offer to the UAW included more than $7 billion in U.S. investments, jobs, higher pay, and improved benefits. It included an offer for more than 5,400 jobs, the majority of which would be new. The offer would allocated an electric truck to Detroit-Hamtramck assembly plant and Lordstown would be reopened as a battery assembly plant. The UAW's previous contract with General Motors expired on Saturday at midnight, but workers were told to continue to show up to work under the terms of the prior contract while negotiations were ongoing. Fiat Chrysler Automobiles and Ford Motor Company have extended their current contracts while the GM talks are happening.
  13. G. David Felt Staff Writer Alternative Energy - www.CheersandGears.com 200 MPH plus EV, Do we care? Yesterday April 13th 2017, Lucid sent out an email about how their near production test car hit a top speed of 217 mph at the Ohio's Transportation Center banked oval test track. Many of us that follow the industry know that Tesla limits their auto's to 155 mph. Lucid is on record that they intend to meet the needs of the high-speed cruising market of Europe and Middle east. Simulations can only go so far on a computer and then you have to put rubber to the road. This allows the engineers to monitor and tweak everything from the power train, suspension, body fluidity and so much more. This will allow them to review the data, make adjustments and come back later to push the limit even higher. We know that Lucid is planning on a $60,000 dollar 400hp, 240 mile range RWD EV with the top model being a six figure AWD 1,000 HP and 400 miles of range on a super dense battery pack. This begs the Question, other than the few places you can push this kind of Speed, Does it matter any more if an auto can go over 100 plus mph? This question comes from seeing so many auto's that are now breaking that 6 second 0-60 speed showing they have the torque and hp to maintain the speed needed for daily driving. Lucid News
  14. General Motors announced a recall Wednesday of 3.46 million GM trucks and SUVs for a braking issue that has been linked to 113 accidents and 13 injuries. The problem arises from a vacuum pump issue where the pump make less vacuum over time, thereby increasing the braking effort. The pump is lubricated by engine oil and can accumulate debris and oil sludge lessening the pump's effectiveness. The recall covered model years 2014 - 2018 of Cadillac Escalade, Chevrolet Silverado, Suburban, and Tahoe, and GMC Sierra and Yukon. GM told the NHTSA that the pump design was only used during those years of manufacture. In a smaller recall, GM is recalling 177,000 2018 Chevrolet Malibus with the 1.5-liter Turbo engine where an error in the engine control computer could disable the fuel injectors.
  15. Ford and GM, the U.S.'s top two auto manufacturers are bracing themselves for the worst. They have been running economic modeling to determin the steps they would take given a medium or severe recession in the US and across global markets. General Motors has a stockpile of $18 billion in cash while Ford has $20 billion saved up. GM is relying on deferring non-essential capital expenditures and a shift in production to lower cost vehicles as part of its plan to save costs in the event of a a strong downturn. Ford says is is evaluating its future moves. Fears of a recession have plagued Wall St. most of 2019 while a trade war with China rages on. Higher costs of materials due to tariffs is adding to the pain of weak product demand in the U.S., China, and Europe. In Germany, Europe's biggest economy, growth shrank by 0.1 percent in Q2 2019 as trade conflicts and auto industry troubles weighed heavily on the economy. Both exports and lagging demand at home have put a strain on German automakers already looking to slash costs. Today, a strong signal that a recession is looming appeared as the 10-year treasury yield dropped below the 2-year treasury yield while do Dow Jones Industrial Average sank over 450 points. Related: Honda Slowing Production, Cutting Shifts Nissan Profit Plunges 99%; 12,500 Job Cuts Eminent Ford Europe Laying Off Another 12,000 Daimler Books First Quarterly Loss in Ten Years View full article
  16. Ford and GM, the U.S.'s top two auto manufacturers are bracing themselves for the worst. They have been running economic modeling to determin the steps they would take given a medium or severe recession in the US and across global markets. General Motors has a stockpile of $18 billion in cash while Ford has $20 billion saved up. GM is relying on deferring non-essential capital expenditures and a shift in production to lower cost vehicles as part of its plan to save costs in the event of a a strong downturn. Ford says is is evaluating its future moves. Fears of a recession have plagued Wall St. most of 2019 while a trade war with China rages on. Higher costs of materials due to tariffs is adding to the pain of weak product demand in the U.S., China, and Europe. In Germany, Europe's biggest economy, growth shrank by 0.1 percent in Q2 2019 as trade conflicts and auto industry troubles weighed heavily on the economy. Both exports and lagging demand at home have put a strain on German automakers already looking to slash costs. Today, a strong signal that a recession is looming appeared as the 10-year treasury yield dropped below the 2-year treasury yield while do Dow Jones Industrial Average sank over 450 points. Related: Honda Slowing Production, Cutting Shifts Nissan Profit Plunges 99%; 12,500 Job Cuts Eminent Ford Europe Laying Off Another 12,000 Daimler Books First Quarterly Loss in Ten Years
  17. General Motors and Bechtel are teaming up to form a new company to deploy a widespread fast-charging network. Neither company plans to put any money into the project, outside investors are being solicited. The network will help General Motors, which plans to introduce 20 new EVs by 2023. It will also help other manufacturers of EVs. General Motors will provide data to help decide where to locate the EV charging stations and Bechtel will use its own experts for the engineering and building of the stations. Much of the data will come from GM's OnStar system to help learn where people tend to park. Data from both electric and gasoline powered vehicles will be used. Additional fast-charging infrastructure is seen as a requirement to increasing electric vehicle sales. According to a survey by AAA, one of the biggest concerns Americans have about EVs is having enough locations to charge them. The network built by Bechtel and GM will not be limited to interstate highways where most fast charging stations have been located so far. The company will also locate chargers in urban areas targeting apartments and condos where drivers cannot have a home charger of their own. The new venture joins major initiatives from Electrify America, a Volkswagen funded EV station program, and Tesla with Supercharging, to build out a nationwide network of charging stations. View full article
  18. GM is delaying the launch of the new inline-6 diesel engine bound for the GMC Sierra 1500 and Chevrolet Silverado 1500. No longer available for ordering on the 2019s, GM has pushed the availability into the 2020 model year. According the GM, the emissions certification process on the engine is taking longer than normal. Customers who ordered a 2019 Silverado or Sierra with the diesel engine will have their orders canceled and will need to resubmit the order for a 2020 model year vehicle once they become available for order. GM has yet to open orders for 2020 truck models with the diesel engine, but a GM spokesperson said that it will be "soon". Assuming the current pricing holds, the 3.0 liter Duramax diesel will be priced $2,495 over a 5.3 liter V8 and $2,890 over the 4-cylinder 2.7-liter turbo. Meanwhile for 2020, GM is expanding the availability of adaptive cruise control and the 10-speed automatic across the lineup. At Chevy, the Silverado will now have the optional 6.2 liter V8 on five out of the eight trim levels. The 6.2 V8 will be paired with the 10-speed automatic and available on the Custom Trail Boss, RST, LT Trail Box, LTZ, and High Country. At GMC, the CarbonPro box will be available at no additional cost when paired with certain other packages on the Sierra AT4 and Sierra Denali, while the double cab Sierra Elevation Trim will now also be available in a crew cab. View full article
  19. General Motors and Bechtel are teaming up to form a new company to deploy a widespread fast-charging network. Neither company plans to put any money into the project, outside investors are being solicited. The network will help General Motors, which plans to introduce 20 new EVs by 2023. It will also help other manufacturers of EVs. General Motors will provide data to help decide where to locate the EV charging stations and Bechtel will use its own experts for the engineering and building of the stations. Much of the data will come from GM's OnStar system to help learn where people tend to park. Data from both electric and gasoline powered vehicles will be used. Additional fast-charging infrastructure is seen as a requirement to increasing electric vehicle sales. According to a survey by AAA, one of the biggest concerns Americans have about EVs is having enough locations to charge them. The network built by Bechtel and GM will not be limited to interstate highways where most fast charging stations have been located so far. The company will also locate chargers in urban areas targeting apartments and condos where drivers cannot have a home charger of their own. The new venture joins major initiatives from Electrify America, a Volkswagen funded EV station program, and Tesla with Supercharging, to build out a nationwide network of charging stations.
  20. Maven, General Motors' car-sharing service launched in 2016 will be ceasing operation in several cities in the U.S. The news was first broken by the Wall Street Journal on Monday and has been confirmed by a GM spokeswoman. Eight out of the seventeen markets that the service operates including Boston and Chicago will be closed down within the next few months. According to the spokeswoman, the shutdown is due to GM wanting to "concentrate on markets in which we have the strongest current demand and growth potential." Those markets in question include Detroit, Los Angeles, and Toronto. Another possible reason is the lack of awareness of Maven in the eight markets being shut down. There isn't enough demand for people wanting to use car-sharing or wanting to allow the use of their vehicles. Source: Wall Street Journal (Subscription Required), Automotive News (Subscription Required) View full article
  21. GM is delaying the launch of the new inline-6 diesel engine bound for the GMC Sierra 1500 and Chevrolet Silverado 1500. No longer available for ordering on the 2019s, GM has pushed the availability into the 2020 model year. According the GM, the emissions certification process on the engine is taking longer than normal. Customers who ordered a 2019 Silverado or Sierra with the diesel engine will have their orders canceled and will need to resubmit the order for a 2020 model year vehicle once they become available for order. GM has yet to open orders for 2020 truck models with the diesel engine, but a GM spokesperson said that it will be "soon". Assuming the current pricing holds, the 3.0 liter Duramax diesel will be priced $2,495 over a 5.3 liter V8 and $2,890 over the 4-cylinder 2.7-liter turbo. Meanwhile for 2020, GM is expanding the availability of adaptive cruise control and the 10-speed automatic across the lineup. At Chevy, the Silverado will now have the optional 6.2 liter V8 on five out of the eight trim levels. The 6.2 V8 will be paired with the 10-speed automatic and available on the Custom Trail Boss, RST, LT Trail Box, LTZ, and High Country. At GMC, the CarbonPro box will be available at no additional cost when paired with certain other packages on the Sierra AT4 and Sierra Denali, while the double cab Sierra Elevation Trim will now also be available in a crew cab.
  22. Maven, General Motors' car-sharing service launched in 2016 will be ceasing operation in several cities in the U.S. The news was first broken by the Wall Street Journal on Monday and has been confirmed by a GM spokeswoman. Eight out of the seventeen markets that the service operates including Boston and Chicago will be closed down within the next few months. According to the spokeswoman, the shutdown is due to GM wanting to "concentrate on markets in which we have the strongest current demand and growth potential." Those markets in question include Detroit, Los Angeles, and Toronto. Another possible reason is the lack of awareness of Maven in the eight markets being shut down. There isn't enough demand for people wanting to use car-sharing or wanting to allow the use of their vehicles. Source: Wall Street Journal (Subscription Required), Automotive News (Subscription Required)
  23. When General Motors announced that it would be potentially selling its Lordstown plant to electric car start-up Workhorse Group Inc, there was a fair amount of head-scratching. The company is best for their W-15 range-extended pickup (which has been delayed) and electric vans. They are also known for the Surefly octocopter drone their former CEO Steve Burns is trying to sell. Why the skepticism? Workhorse isn't looking so good on the financial sheets. Back in March, Trucks.com published a report talking about the various financial setbacks the company has been facing. From their story, The news hasn't gotten any better in 2019. Their most recent financial statement to the SEC reveals the company has $2,847,936 of on-hand cash at the end of March. They also reported a net loss of $6,264,172. "Workhorse appears to be a very slow-moving venture that has a lot of risk, and no massive amount of funding. Lordstown is a massive facility, and despite some investments over the years, I don't believe it would be easily converted to build electric pickups without substantial investment," said Jeff Schuster, an industry analyst for LMC Automotive to The Detroit News. But Workhorse has a plan for this. Both the News and Trucks.com report that “newly formed entity” would be created and Workhorse would be a minority stakeholder. The entity "would own Lordstown and use Workhorse technology and intellectual property to build a vehicle." Where would the business get the capital to this is unclear. Workhorse spokesman Tom Colton declined to comment when asked about possible funding sources. “There’s got to be some big contract behind this because Workhorse’s financials and forecasts just don’t merit a plant that makes 450,000 units a year,” said Kristin Dziczek, director of the labor and industry group for the Center for Automotive Research. There is also the issue of utilizing all of that space that Lordstown offers - 6.2 million square feet. Analysis done by LMC says Workhorse would need to produce 410,000 trucks and vans per year to reach full capacity. At the moment, LMC forecasts Workhorse producing between 5,000 to 10,000 vehicles. Again, Workhorse may have a solution. Here is GM Spokesman Jim Cain speaking to The Detroit News, As mentioned earlier, Workhorse is one of the five finalists on building new trucks for the U.S. Postal Service. They are teamed up with VT Hackney - a company that builds specialized bodies for work trucks - Emergency services and Beverage trucks to give some examples. The contract is worth $6.3 billion. But Jalopnik reported yesterday that the post office truck would not be built in Lordstown. As it stands, there are a lot of questions and unknowns about this possible deal. Source: The Detroit News, Trucks.com View full article
  24. When General Motors announced that it would be potentially selling its Lordstown plant to electric car start-up Workhorse Group Inc, there was a fair amount of head-scratching. The company is best for their W-15 range-extended pickup (which has been delayed) and electric vans. They are also known for the Surefly octocopter drone their former CEO Steve Burns is trying to sell. Why the skepticism? Workhorse isn't looking so good on the financial sheets. Back in March, Trucks.com published a report talking about the various financial setbacks the company has been facing. From their story, The news hasn't gotten any better in 2019. Their most recent financial statement to the SEC reveals the company has $2,847,936 of on-hand cash at the end of March. They also reported a net loss of $6,264,172. "Workhorse appears to be a very slow-moving venture that has a lot of risk, and no massive amount of funding. Lordstown is a massive facility, and despite some investments over the years, I don't believe it would be easily converted to build electric pickups without substantial investment," said Jeff Schuster, an industry analyst for LMC Automotive to The Detroit News. But Workhorse has a plan for this. Both the News and Trucks.com report that “newly formed entity” would be created and Workhorse would be a minority stakeholder. The entity "would own Lordstown and use Workhorse technology and intellectual property to build a vehicle." Where would the business get the capital to this is unclear. Workhorse spokesman Tom Colton declined to comment when asked about possible funding sources. “There’s got to be some big contract behind this because Workhorse’s financials and forecasts just don’t merit a plant that makes 450,000 units a year,” said Kristin Dziczek, director of the labor and industry group for the Center for Automotive Research. There is also the issue of utilizing all of that space that Lordstown offers - 6.2 million square feet. Analysis done by LMC says Workhorse would need to produce 410,000 trucks and vans per year to reach full capacity. At the moment, LMC forecasts Workhorse producing between 5,000 to 10,000 vehicles. Again, Workhorse may have a solution. Here is GM Spokesman Jim Cain speaking to The Detroit News, As mentioned earlier, Workhorse is one of the five finalists on building new trucks for the U.S. Postal Service. They are teamed up with VT Hackney - a company that builds specialized bodies for work trucks - Emergency services and Beverage trucks to give some examples. The contract is worth $6.3 billion. But Jalopnik reported yesterday that the post office truck would not be built in Lordstown. As it stands, there are a lot of questions and unknowns about this possible deal. Source: The Detroit News, Trucks.com
  25. In a series of tweets today, Trump announced that General Motors will be selling their Lordstown plant to electric truck maker Workhorse. Lordstown was shut down in March of this year and formerly built the Chevrolet Cruze. The details of the plant sale have not yet been announced. Workhorse is a Cincinnati based company who builds EV pickups with a built in range extender, similar in concept to the Chevrolet Volt. Workhorse's sole model is the W-15, capable of driving up to 80 miles on a charge before a gasoline powered range extender kicks in. It uses two motors to provide all-wheel drive. The only configuration available is an extended cab with 6.5 foot bed. They can tow up to 5,000 lbs and have a payload of 2,200 lbs. Pricing starts at $54,500 before tax credits. Workhorse intends to start production for the retail market sometime in 2019. Fleet orders have already started. GM is not denying any of the information in the tweets from Trump. Update: General Motors has confirmed that talks are ongoing. View full article

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