General Motors Stock News

General Motors has sold its 7.5 million shares in Lordstown Motors following underwhelming production goals for Endurance electric pickup truck.

General Motors sold its stake in Lordstown Motors, an electric vehicle startup that has struggled to get its first vehicle, the electric pickup truck Endurance, to production, reports the Detroit Free Press. GM’s 7.5 million shares of common stock, which was less than 5% of the company, had an initial equity value of $75 million. […]

GM Sold Their 7.5 Million Share Stake In Lordstown Motors In Q4 General Motors has sold out of its stake in Lordstown Motors - an investment the company received as part Lordstowns'' SPAC deal. The sale took place in the 4th quarter and after an "undisclosed" lockup period, according to CNBC. General Motors owned 7.5 million shares of the company, which had an initial equity value of $75 million. GM''s stake in the company was less than 5% and it received the shares for in-kind contributions and $25 million in cash. General Motors didn''t comment on the timing of its sale, though it wasn''t totally unexpected. GM''s main involvement in Lordstown, per CNBC, was "a goodwill gesture to assist in getting the Lordstown Assembly plant back up and running following the automaker ending production there in 2019." GM spokesperson Jim Cain told CNBC: “Our objective in investing was to allow them to complete the purchase of the plant and restart production.” Since its SPAC deal, Lordstown stock has plunged.

General Motors is suspending all vehicle exports to Russia as the invasion of Ukraine continues.

Automotive investors woke up to a growing oil shock Tuesday, and it''s taking a toll on shares of General Motors, Ford Motor Co. as well as many parts makers.

General Motors Co said on Tuesdayit sold its stake in electric vehicle startup Lordstown Motors Corp .

RIDE stock is down more than 20% year-to-date as investors grow nervous about the EV company. In addition, GM has sold its stake.

GM to sell stake in EV startup Lordstown Motors - CNBC

Tom Brady announced the end of his legendary NFL career last month but many have speculated a comeback is possible. Tampa Bay Buccaneers general manager Jason Licht is one of them.

Shares of several companies in the automotive and auto components sector, including Ford Motor Company (NYSE: F ), General Motors Company (NYSE: GM ) and Goodyear Tire & Rubber Co (NASDAQ: GT ), are all trading lower as the Russian invasion of Ukraine continues to escalate. The conflict has weighed on stocks across sectors and … Full story available on Benzinga.com

Lordstown Motors was one of the few electric vehicle stocks showing a gain on Tuesday afternoon as investors continue to digest the company''s Q4 earnings report. Read more.

Will conflict between Russia and Ukraine ruin the car market?

Tampa Bay general manager Jason Licht says the Buccaneers will "leave the light on" for Tom Brady in case the quarterback decides to unretire. "We''ll see what the future holds," Licht said during an NFL Network appearance Tuesday. "We''ll leave the light on. You always leave the light on for a guy like Tom Brady." Licht is in Indianapolis to attend this week''s scouting combine, where he said the team is "trying to make o

With the signing of the new Electoral Act 2022 by President Muhammadu Buhari last week Friday, the coast is clear now for political activities to gather more momentum. The 2023 election is very important to Nigeria in more ways than one. It is going to be a fresh start after a two-term of eight years by Buhari. It is also an election that will test the political might of the parties, particularly, the two major ones- the All Progressives Congress (APC) and the People’s Democratic Party (PDP). Will the APC retain the seat or otherwise? Moreover, it is going to test the extent to which the provisions in the Amended Electoral Act that has been signed into law would be implemented and adhered to. BusinessDay Politics and Data Analytics desks have been mandated to provide unbiased analysis and support to the electioneering processes through the provision of timely information on the aspirants, their profiles, achievements, programmes, manifestoes, and interviews blended with superior analysis of economic and election data.

General Motors Co (NYSE: GM ) is halting vehicle exports to Russia until further notice, Fox Business reported on Monday, citing a company statement. What Happened: Detroit, Michigan-based GM stopped production in Russia seven years ago and ended a joint venture in 2019 but still runs a sales operation, and exports about 3,000 cars a year there. GM did not comment on Russian President Vladimir Putin ''s actions, according to the report, but was quoted as saying "Our thoughts are with the people … Full story available on Benzinga.com