GM backs sodium-ion battery startup with $108M, extends eyes-off driving plans

General Motors (GM) terminated a long-term supply deal with Vacuumschmelze (VAC) for rare-earth magnets, leading to arbitration. VAC, set to be acquired by Energy Fuels, supplied 90% of its US plant's output to GM. The dispute highlights challenges in reducing reliance on China for rare-earth materials and the shifting US EV industry landscape.

General Motors (GM) announced a new centralized computing architecture for its vehicles, supporting both gas and electric powertrains. The system, debuting in the 2028 Cadillac Escalade IQ, aims to reduce complexity, improve software features, and enhance connectivity. GM claims 40x more computing power, 30% less wiring, and 50% faster cellular connectivity. The move is part of GM's strategy to compete with Tesla and other automakers in offering advanced software-defined vehicle features.

General Motors (GM) will close its Brownstown Battery Assembly plant by summer 2027 as its lease ends. The plant, initially used for Chevrolet Volt battery production, now serves low-volume models like the Cadillac Celestiq and hybrid Corvettes. GM reported strong Q3 results with $50.0 billion revenue and $3.3 billion net income, but shares fell 6% due to lowered EPS guidance. The company also announced a $20 billion share repurchase program.

General Motors (GM) beat Q3 earnings estimates but stock fell 7.2% due to tightened 2027 guidance. Deutsche Bank remains bullish, citing strong execution and a $20B buyback. GM's Q3 EBIT exceeded estimates, driven by North American operations. The firm lowered its price target to $98 but maintains a buy rating, expecting cost cuts to drive future growth.

Montana AG sued GM and OnStar, alleging they secretly collected and sold driving data from millions of GM vehicles to insurers, leading to rate hikes. The data included GPS, speed, and driving habits, collected via OnStar's Smart Driver program. GM discontinued the program in 2024 and settled with the FTC, but Montana's lawsuit seeks relief for affected consumers.

Montana's AG sued GM, alleging OnStar unlawfully collected and sold driving data from 14 million customers, leading to increased insurance rates. GM denies wrongdoing. The FTC previously fined GM for similar practices, banning data sharing without consent. Experts warn about data collection's impact on insurance premiums.