The poor performance of General Motors’ Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totaling more than $5 billion in the fourth quarter of this year.

Two towers at Detroit’s iconic Renaissance Center would be razed and the complex converted to a mix of housing and offices under an ambitious $1.6 billion plan announced on Monday.

Despite a small dip in U.S. vehicle sales, General Motors’ first-quarter net income rose more than 25% on strong deliveries of pickup trucks and other higher-profit vehicles.

General Motors will move its Detroit headquarters to a new downtown office building next year and redevelop its iconic home along the Detroit River.

General Motors’ net income rose 12% last year despite losing more than $1 billion when many of its plants were shut down by a six-week autoworkers’ strike.

The EV trend in the US at the end of 2023 is a little tough to tease out.

Clearly frustrated with its languishing share price, General Motors is announcing a massive stock buyback plan, raised its dividend and told investors it can absorb increased labor costs from a six-week autoworkers strike.

A strike by autoworkers against General Motors is expected to cut the automaker's pretax earnings by $800 million this year, and another $200 million per week after that.

The United Auto Workers union has made CEO pay a central part of their argument for a big worker wage increase.

About 13,000 auto workers have walked off the job at three targeted factories after their union leaders couldn’t reach a deal with Detroit’s automakers.

General Motors posted $2.54 billion in second-quarter net income, a 52% increase over a year ago.

Electric vehicles made by General Motors will be able to use much of Tesla’s vast charging network starting early next year.

Workers at a General Motors joint venture electric vehicle battery factory in Ohio have voted to join the United Auto Workers union.

General Motors expects its portfolio of electric vehicles to turn a profit in North America by 2025.

General Motors’ third-quarter net profit rose 36.6% as vehicle sales began to rebound from persistent parts supply chain troubles.

General Motors says it will spend $760 million to renovate its transmission factory in Toledo, Ohio, so it can build drive lines for electric vehicles.

Hertz plans to order up to 175,000 Chevrolet, Buick, GMC, Cadillac and BrightDrop electric vehicles from General Motors over the next five years.

Auto companies are rolling out more affordable electric vehicles that should widen their appeal to a larger group of buyers.

General Motors’ second-quarter net income fell 40% from a year ago as computer chip and parts shortages hobbled factory output and caused the company’s U.S. sales to fall more than 15%.

In their first rollouts of electric vehicles, America’s automakers targeted people who value short-range economy cars.

General Motors will keep its headquarters in its seven-building office tower complex in downtown Detroit, its CEO says.

The economy is a bit wobbly, but General Motors CEO Mary Barra isn’t backing off of an audacious prediction: She pledges that by the middle of this decade, her company will sell more electric vehicles in the U.S. than Tesla, the global sales leader.

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.

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.

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.

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

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.

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

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.

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 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.

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.

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

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.

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

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.

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.

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.