MARY BARRA

GM's stock closing below the $33 a share IPO price from November 2010 occurred hours after the company's annual shareholder meeting.

Major automakers are asking Congress to lift the cap on how many people can receive tax credits for buying a hybrid or fully electric vehicle.

Major automakers are asking Congress to lift the cap on how many people can receive tax credits for buying a hybrid or fully electric vehicle. In a letter to leaders of the Senate and House of Representatives on Monday, the chief executives of Ford, Toyota, GM and Stellantis asked that tax credits be extended to anyone who seeks to buy a qualified vehicle. Currently the number of tax credits allowed are capped at 200,000 per company.

The median pay package for the CEOs of the biggest U.S. companies rose 17.1% in 2021 as the economy rebounded and company profits and stock prices jumped. CEO pay took off as stock prices and profits rebounded sharply as the economy roared out of its brief 2020 recession. Because much of a CEO's compensation is tied to such performance, their pay packages ballooned after years of mostly moderating growth. Surveys suggest Americans across political parties see CEO pay as too high, and some investors are pushing back. Even so, only 31% of investors at JPMorgan Chase’s annual meeting of shareholders recently gave a thumbs up on Dimon’s pay package.

CEO pay took off as stock prices and profits rebounded sharply as the economy roared out of its brief 2020 recession. Because much of a CEO’s compensation is tied to such performance, their pay packages ballooned after years of mostly moderating growth. Only about a quarter of the typical pay package for all S&P 500 CEOs last year came as actual cash they could pocket. Surveys suggest Americans across political parties see CEO pay as too high, and some investors are pushing back. Even so, only 31% of investors at JPMorgan Chase’s annual meeting of shareholders recently gave a thumbs up on Dimon’s pay package.

Pay packages for the women who run S&P 500 companies jumped in 2021 as the economy recovered and stock prices and profits soared.

Pay for CEOs who run the biggest U.S. companies soared 17.1% last year, up to a median of $14.5 million.

Wells Fargo lowered GM's rating after market close Wednesday to "underweight" and cut the company's price target from $74 a share to $33 a share.

GM late Tuesday reported net income of $2.94 billion, or $1.35 per share, versus a profit of $3.02 billion, or $2.03 per share, in the same quarter last year. Excluding one-time items, such as costs related to its Cruise autonomous vehicle subsidiary, GM’s earnings amounted to $2.09 per share. GM’s sales in the U.S., its most profitable market, jumped 13.5% in the first quarter versus a year earlier to $29.46 billion. The company’s worldwide market share slipped to 7.3% from 8.1%. Earlier this month, GM announced it will co-develop “affordable” electric vehicles with Honda.

General Motors’ net income declined in the first quarter, as the automaker sold fewer cars and trucks worldwide, though higher prices helped boost revenue, especially in North America.

CEO Mary Barra said the new compensation benchmarks are meant to underscore the company's commitment to EVs.

Demand is strong for GM's upcoming rival to Ford's F-150 Lightning, which began production earlier today.

An electrified vehicle generally means a gas-electric hybrid or a plug-in rechargeable hybrid.

Toyota customers soon won’t be able to get U.S. federal tax credits for buying electric or plug-in hybrid vehicles.

DETROIT — General Motors and Honda are working together to create new electric vehicles (EVs), including compact crossovers, that will be centered around GM’s proprietary Ultium battery. >> Read more trending newsIn a news release, the companies said they would be making millions of electric vehicles beginning in 2027. “GM and Honda will share our best technology, design and manufacturing strategies to delivery affordable and desirable EVs on a global scale,” GM chair and CEO Mary Barra said in a statement. Honda and GM’s first collaborative vehicle, the Honda Prologue, is scheduled to be launched in early 2024, and will be followed by Acura’s first electric SUV, according to the company. GM has said it plans to be capable of producing and selling two million electric vehicles worldwide by 2025, CNBC reported.

General Motors and Honda Motor will develop a series of affordable electric vehicles based on a new global architecture.

Back when General Motors CEO Mary Barra was an HR executive at the automaker, she revised the dress code from several pages to two words: Dress appropriately.Back then there was some agreement on what that meant.Get market news worthy of your time with Axios Markets. Subscribe for free.Why it matters: Now as people slowly return to the office, there's confusion. Many grew accustomed to elastic waistbands; we haven't buttoned or zipped pants in a while. There are big questions: Are sweatpants OK

The move matches similar capabilities by other automakers, including Ford Motor.

Even coming off its fastest rate of annual growth in 37 years, the U.S. economy is still bogged down by a persistent shortage of the computer chips essential to the technology that connects, transports, and entertains us.

GM's leaders told Wall Street it has a strategy this year to protect its production from any semiconductor chip shortfalls.

GM CEO Mary Barra is making it clear that the company is going "full-out" on its plans to profitability expand into EVs to challenge industry leader Tesla.

GM is expected to report a relatively positive fourth-quarter profit after the markets close Tuesday, capping off an unprecedented year of supply chain issues.

After Biden lauded EV production by General Motors and Ford, Tesla CEO Elon Musk also ventured, "Starts with a T, Ends with an A, ESL in the middle."

"It's just surreal," General Motors CEO Mary Barra says while testing one of the company's driverless cars in San Francisco, calling it a highlight of her career.

President Joe Biden is getting support from several business leaders on his economic agenda that has stalled in the Senate.

GM is investing nearly $7 billion in Michigan to build a new battery plant and overhaul an existing factory to make electric trucks.

GM has said it will sell more than 1 million EVs globally by mid-decade and overtake Tesla as America's top seller of electric vehicles during that time frame.

General Motors is making the largest investment in company history in its home state of Michigan, announcing plans to spend nearly $7 billion to convert a factory to make electric pickup trucks and to build a new battery cell plant.

GM made headlines at CES with announcements of new EVs, progress on autonomous vehicles and thousands of orders for its BrightDrop EV commercial van.

Now No. 2 to Toyota in total U.S. vehicle sales, Detroit's biggest automaker is speeding up its shift to electric cars.

The sleek two-passenger electric vehicle is part of Cadillac's Halo Concept Portfolio.

Thousands of people have gathered in Las Vegas for a tech conference that’s been scaled back because of COVID-19 precautions.

Even though the consumer appetite for electric pickup trucks is a bit murky, the competition for buyers just got a whole lot tougher.

The company was able to help a small West Coast ventillator maker start large-scale production in about a month. That gave GM the confidence that it could speed up other tasks, such as bringing electric and other vehicles to market faster, CEO Mary Barra said. Also at the event, Barra gave a strong hint that Michigan may get an electric vehicle battery factory. It’s also negotiating what is likely to be a joint venture with Vacuumschmelze (VAC) of Germany to build a U.S. factory to make electric vehicle motor magnets. At present there are no factories in the U.S. equipped for large-scale production of electric vehicle motor magnets, Amin said.

The CEO of General Motors says the automaker learned valuable lessons last year when it stepped in to boost emergency production of ventilators to treat severely ill COVID-19 patients.

GM is scheduled to unveil the Chevrolet Silverado E at the CES technology conference next month in Las Vegas.

Rivian's stock is indicated to open at $125 a share, a 60% pop from its IPO price of $78 a share and implying a valuation of as much as $106.6 billion.

Ford, which reported results after Wednesday's closing bell, said its revenue dropped 5% from a year ago to $35.68 billion. The company also lost 2.4 percentage points of U.S. market share, largely because like GM, it couldn't produce enough vehicles to meet demand. GM's earnings fell from $4 billion last year as sales slumped and the company lost market share in the U.S., also its most profitable country. But Barra said she expects GM's market share to bounce back when factories get back to normal production. With the expected improvement in chip supplies, GM increased its full-year net income guidance to a range of $8.1 billion to $9.6 billion.

The Business Roundtable and the U.S. Chamber of Commerce oppose new tax plans proposed by Democrats for President Biden's social spending bill.

Barra's comments come weeks after the automaker said it planned to be the leader in EV sales in the U.S., but the company did not release a timeframe to do so.

The global computer chip shortage cut into third-quarter profits at both Ford and crosstown rival General Motors, with both companies having to temporarily close factories, pinching supplies on dealer lots.

From $280 billion in expected revenue by 2030 to 1 million robotaxis, a look at the most significant figures from General Motors' investor day.

General Motors Electric Vehicles FILE - This Oct. 16, 2019, file photo shows a sign at a General Motors facility in Langhorne, Pa. General Motors and General Electric are looking at developing a supply chain of rare earth materials that help make electric vehicles and renewable energy equipment. To get there, CEO Mary Barra said the company's revenue would rise from selling internal combustion vehicles, while at the same time revenue would be added from new electric vehicles. To capture U.S. electric vehicle market share leadership, GM plans to spend $35 billion to roll out more than 30 new battery vehicles globally by 2025. GM will have to overtake Tesla, which over the weekend reported record third-quarter sales of 241,300 electric vehicles, a 72% increase over the prior year. GM wouldn't say when it would take the lead, but Barra said GM would have a strong portfolio of affordable electric vehicles as well as an upcoming reliable charging infrastructure.

General Motors plans to cash in as the world switches from combustion engines to battery power, promising to double its annual revenue by 2030.

GM kicks off the first of a two-day investor meeting where it will detail exactly how it will grow revenue and profit margins.

Wall Street is expecting a lot from GM's investor event — from specific revenue targets to new details about its electric and autonomous vehicle operations.

GM CEO Mary Barra and other executives will detail plans to expand the company's revenue and earnings during an investor day this week.

From Walt Disney World to Goldman Sachs, a flurry of private and public employers are requiring workers to get vaccinated against COVID-19 after the federal government gave full approval to the Pfizer shot.

The new target is expected to be supported by companies such as General Motors, Ford Motor, Stellantis and other automakers.

GM plans to add a full-size battery electric cargo van for Chevrolet as well as a medium-duty truck for service and utility vehicles.

The cautious tone rattled investors, who pushed GM shares down more than 8% in midday trading. GM said it managed the shortage well and was able to divert scarce chips to factories that make higher profit pickup trucks and large SUVs. Executives said Wednesday that they expect tight inventory and high prices to continue through the year as the chip shortage lingers into 2022. Yet the consulting firm LMC Automotive estimated that GM production from April through June was down 38% from the same quarter in 2019, the last comparable quarter of normal production. Barra also announced two new electric vehicles coming as part of GM's plan to introduce more than 30 globally by 2025.

General Motors posted a healthy $2.8 billion second-quarter profit Wednesday, but its cautious outlook for the rest of the year spooked investors.

Self-driving rides with safety drivers will roll out this year in Miami by request and next year in Austin.

The changes come after large swaths of corporate American have promised to be more inclusive in the wake of the #MeToo movement and George Floyd's murder.

These are the stocks posting the largest moves in midday trading.

See which stocks are posting big moves after the bell.

These are the stocks posting the largest moves in midday trading.

General Motors CEO Mary Barra on Wednesday once again pushed back on spinning off its emerging electric vehicle battery business. Keeping the unit within GM will create more value for the company than spinning it off, Barra said. "For an electric vehicle, it's all about the battery," she said in an interview on "Squawk on the Street." Barra touted the company's plans to sell its Ultium battery cells as well as its Hydrotech fuel cell technology to other companies. Speculation and pressure from Wall Street about a potential spinoff of GM's electric vehicle operations has been rampant for some time.

GM, America's largest automaker, is racing to catch up to Tesla on EVs and become a leader in the space against other well-established automakers such as VW.

The nation’s largest automaker says it can support greenhouse gas emissions limits that other car manufacturers negotiated with California — if they are achieved mostly by promoting sales of fully electric vehicles.

Experts say "we continue to see steady progress" but "there's more work to do," as a record 41 women CEOs are represented on the Fortune 500.

Most of the women running the biggest U.S. companies saw their pay increase last year, even as the pandemic hammered the economy and many of their businesses.

Executives pledged to make diversity a priority, but the past year has highlighted how difficult it is to implement change in corporate America

Cruise's CEO disclosed the timing Thursday, giving the most specific time frame yet for the vehicle and commercialization of its autonomous vehicle business.

GM CEO Mary Barra has cut costs, slashed 64,000 jobs, exited unprofitable markets and audaciously pledged to become an all-electric auto company by 2035.

Barra's comments come after GM showcased a personal autonomous vehicle concept car for its Cadillac brand in January.

GM executives wouldn't give specifics on how much production they expect to lose to the chip shortage. Last week crosstown rival Ford Motor Co. said the worsening chip shortage would cut its production in half during the current quarter. Nearly all automakers are struggling with the chip shortage, caused by semiconductor makers switching their factories to more profitable consumer-electronics processors when auto plants closed due to the coronavirus last year. Then a March fire wiped out much of the chip production at a factory in Japan that makes chips for vehicles. Barra said that after the chip shortage ends, GM will not return to a business model with huge dealer inventories.

General Motors’ first-quarter net income surged to $2.98 billion as strong U.S. consumer demand and higher prices overcame production cuts brought on by the global shortage of computer chips.

New Mexico health officials say they are preparing to respond to pockets of vaccine hesitancy in some communities as overall interest increases in receiving the vaccine for COVID-19.

The United Auto Workers union is calling on General Motors to pay full union wages at electric vehicle battery factories, thrusting what was a festering conflict into the spotlight because automakers want to pay less.

General Motors expanded its board of directors to 13, appointing former Hewlett-Packard chief Whitman and NBA executive Mark Tatum effective Thursday, March 25, 2021. Seven of GMs directors are now women, including board chair and Chief Executive Officer Mary Barra, who in 2014 became the first woman to lead a major U.S. automaker. (AP Photo/Richard Drew, File)DETROIT – General Motors said Thursday that it has expanded its board to 13 members and appointed former Hewlett-Packard chief Meg Whitman and NBA executive Mark Tatum as directors. There has been an acknowledgment in the U.S. and abroad that white men are overrepresented on the boards of major corporations. Women hold 43.8% of the board seats at companies in France’s 40 biggest publicly traded companies, the U.K. panel said.

FILE - In this Dec. 19, 2012, file photo, Marriott CEO Arne Sorenson speaks during a groundbreaking ceremony for a Marriott hotel in Port-au-Prince, Haiti. Sorenson was the third CEO in Marriotts 93-year history, and the first without the Marriott surname. Sorenson reduced his schedule at Marriott this month to pursue a more aggressive cancer treatment. He was first diagnosed with pancreatic cancer in 2019; a recent routine scan had confirmed the cancer had returned, the company said. Sorenson was the first Marriott CEO whose name was not Marriott, and only the third to lead the company in its 93-year history.

– The seemingly unstoppable rise of Bitcoin continued Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time. Bitcoin is rallying as more companies signal the digital currency could eventually gain widespread acceptance as a means of payment. Some businesses also accept bitcoin, but its popularity has stalled out in recent years. Overstock.com appears to accept Bitcoin for most listings on its website, including cameras, vacuums and clothes. When this bubble bursts and at what price Bitcoin settles at is anyone’s guess,” Reiners said.

The Bolt Electric Utility Vehicle will go on sale early this summer as a 2022 model. About 2.5 million electric vehicles were sold worldwide last year. Fully electric vehicles accounted for less than 2% of U.S. new vehicle sales last year, and Americans continue to spend record amounts on larger gas-powered trucks and SUVs. IHS Markit analyst Stephanie Brinley said the new SUV is another step toward wider adoption of fully electric vehicles, but it will take many more. The credit is phased out after manufacturers hit 200,000 in electric vehicle sales, and GM and Tesla have both passed that level.

It also clouded the future for 50,000 GM workers whose skills — and jobs — could become obsolete far sooner than they knew. But President Joe Biden has made the development of a U.S. electric vehicle supply chain a key part of his ambitious plan to create 1 million more auto industry jobs with electric vehicles. The more environmentally focused plants of the future will need fewer workers, mainly because electric vehicles contain 30% to 40% fewer moving parts than petroleum-run vehicles. At the century-old transmission plant in Toledo, GM workers make sophisticated six-, eight-, nine- or 10-speed gearboxes. Eventually, those parts will be replaced by far simpler single-speed drivetrains for electric vehicles.

General Motors net profit fell 4.5% in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly air bag recall. (AP Photo/Richard Drew, File)DETROIT – General Motors' profit fell 4.5% in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly air bag recall. GM predicted the shortage will cost it $1.5 billion to $2 billion in earnings before taxes this year due to lost production. Still, GM expects pretax income for the year of $10 billion to $11 billion, or $4.50 to $5.25 per share. Of that, $6 billion would go to electric vehicles and $1 billion would go to autonomous, Chief Financial Officer Paul Jacobson said.

FILE - People look at a 145 inch Ultra Large UHD display in the LG booth at the CES tech show, on Jan. 8, 2020, in Las Vegas. CES, the annual gadget show that showcases the buzziest and brightest tech, looks different this year less Vegas glitz, more internet efficiency. Trends to watch reflect the tumultuous year that preceded it. These include COVID-related robots and gadgets, products that make it easier to work from home, more uses for 5G technology, AI infused in everything, and TVs that can bend or even become transparent. On the last day of CES, Samsung will debut its new 5G enabled iteration of its Samsung Galaxy phone — an event that isn't affiliated with CES but still likely to draw buzz.

This photo provided by General Motors shows EP1 electric pallet. General Motors is forming a new business unit to tap the market for delivery vehicles and equipment powered by electricity. Then GM will roll out a clean electric delivery van. Showing Wall Street’s fascination with electric vehicles, GM shares rose to their highest intraday price since the company left bankruptcy protection in 2010. GM has pledged to roll out 30 new electric vehicles globally and spend $27 billion developing them by 2025.

DETROIT – General Motors says it will no longer support the Trump administration in legal efforts to end California's right to set its own clean-air standards. Toyota, one of the big automakers in the coalition favoring the Trump standards, said Monday it is reconsidering its position. In September of 2019, Trump announced his administration would seek to revoke California’s congressionally granted authority to set standards that are stricter than those issued by federal regulators. The move came after Ford, BMW, Honda and Volkswagen signed a deal with the California Air Resources Board, which had been at odds with the Trump administration for months. The Trump administration’s plan increased fuel economy by 1.5% per year, backing off an earlier proposal to freeze the requirements at 2021 levels.

“More people may die if we don’t coordinate,” Biden told reporters during a news conference Monday in Wilmington, Delaware. The Trump administration is working on its own distribution plan, while Biden’s chief of staff indicated his transition team will proceed with their own planning separately because of the obstruction. Last week, a larger group of Republicans in Congress called on the Trump administration to allow Biden to begin receiving national security briefings. Since defeating Trump, Biden has devoted most of his public remarks to encouraging Americans to wear masks and embrace social distancing measures. But on whether Biden should receive coronavirus briefings, many of Trump's allies on Capitol Hill remained dug in.

“More people may die if we don’t coordinate,” Biden told reporters during a news conference in Wilmington, Delaware. The Trump administration is working on its own distribution plan, while Biden’s chief of staff indicated his transition team will proceed with their own planning separately because of the obstruction. Last week, a larger group of Republicans in Congress called on the Trump administration to allow Biden to begin receiving national security briefings. Since defeating Trump, Biden has devoted most of his public remarks to encouraging Americans to wear masks and embrace social distancing measures. But on whether Biden should receive coronavirus briefings, many of Trump's allies on Capitol Hill remained dug in.

The chief financial officer at General Motors, Dhivya Suryadevara, is trading Detroit for Silicon Valley in a surprise departure to join Jack Dorsey's startup, Stripe. She has helped the company strengthen our balance sheet, improve our cost structure, focus on cash generation and drive the right investments for our future. Stripe is maintaining a $2 billion balance sheet, more fortress-like than besieged, as so many major companies have become during the COVID-19 crisis. Adding to Stripes client roster this year alone are the companies Caviar, Coupa, Just Eat, Mattel, NBC, and Paid. I really enjoy leading complex, large-scale businesses and I hope to use my skills to help accelerate Stripes already steep growth trajectory.General Motors named John Stapleton, GM North America chief financial officer, as acting global chief financial officer, effective Saturday.

There are now 26,000 electric vehicle charging stations open to the public in the U.S., with more than 84,000 plugs. Currently electric vehicles make up only about 1.3% of total new vehicle sales in the U.S., according to the Edmunds.com auto site. But the bulk of the nations public charging network is much slower. Electrify America now has over 450 charging stations in the U.S. with more than 2,000 fast-charging outlets, Moran said. Guidehouse analyst Sam Abuelsamid said the number of chargers is increasing rapidly and should be enough to meet demand as more electric vehicles are sold.

The coronavirus has cancelled business plans all over the world but Europe's push into electric cars isn't one of them. Sales of battery-powered and hybrid cars have held up despite a deeply painful recession, mainly thanks to the action of governments. (AP Photo/Jens Meyer, file)FRANKFURT The coronavirus has cancelled business plans all over the world but Europe's push into electric cars isn't one of them. By contrast, electric car adoption is moving more slowly in the U.S. due to regulatory uncertainty. Last year, automakers sold 236,000 fully electric vehicles in the U.S., only 1.3% of the 17.3 million new vehicles that were purchased.