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WSJ: GM to invest $450M to increase electric vehicle production

  • General Motors (GM) is expected to announce a $450M investment in two Michigan plants to increase development and output of its Chevy Volt and Cadillac ELR hybrid-electric vehicles, WSJ reports.
  • Critics could say the move is throwing good money after bad, as GM had sold ~3,600 Volts through the end of March, a 15% Y/Y drop despite cutting the price of the car by $5K to $35K.
  • GM's new vice president of North America manufacturing, Gerald Johnson, is expected to confirm the details tomorrow.
Comments (17)
  • funfun
    , contributor
    Comments (2017) | Send Message
     
    More PR hoopla and hype to divert attention from the millions of defective cars being recalled, and the orchestrated cover-up going on for over a decade! Why should would-be buyers believe anything GM Management spouts when it comes to these Chevy Volts and Cadillac ELRs?

     

    The credibility gap between consumers & investors and Ms. Barra and her tired team of unethical old men is wider than the Grand Canyon.

     

    …funfun..
    7 Apr, 08:32 PM Reply Like
  • Apple Diner
    , contributor
    Comments (222) | Send Message
     
    Please give taxpayers a break and allow GM to go bankrupt WITHOUT another bailout.
    7 Apr, 08:48 PM Reply Like
  • chopchop0
    , contributor
    Comments (3138) | Send Message
     
    Probably won't happen under the same president that "saved" it in 2009 for his UAW buds.
    7 Apr, 10:17 PM Reply Like
  • John Grandits
    , contributor
    Comments (207) | Send Message
     
    FYI it was Bush who utilized TARP funds to initiate the bailout of GM and Chrysler in Dec. 2008
    8 Apr, 01:49 AM Reply Like
  • chopchop0
    , contributor
    Comments (3138) | Send Message
     
    "FYI it was Bush who utilized TARP funds to initiate the bailout of GM and Chrysler in Dec. 2008"

     

    And it was Obama's administration that helped to bring the process to fruition and employ some pretty novel, uncharacteristic changes when it came to who got what in BK.
    8 Apr, 05:09 AM Reply Like
  • SoCalNative
    , contributor
    Comments (429) | Send Message
     
    Shouldn't that dough be used for the wave of settlements coming?
    7 Apr, 09:01 PM Reply Like
  • vicbulge
    , contributor
    Comments (50) | Send Message
     
    Mr. President, if we agree to create some union jobs in Michigan, will you tell Mr. Holder not to place any of us under arrest for ignoring red flags in the defect dept?
    7 Apr, 09:34 PM Reply Like
  • James Bjorkman
    , contributor
    Comments (577) | Send Message
     
    They cut prices on this turkey and sold fewer of them. Sounds like a falling demand curve to me. Why not try something original and make car that doesn't kill its drivers and that people want to drive?
    7 Apr, 09:45 PM Reply Like
  • brian87
    , contributor
    Comments (4) | Send Message
     
    you guys are funny, almost all vehicles will have defects at least once in their life time, so please abandon all vehicles and start working. i'm not a fun of volt but if they lower the price to toyota prius and comparable condition then I'll be the buyer for sure.
    7 Apr, 09:47 PM Reply Like
  • soundwaves
    , contributor
    Comments (15) | Send Message
     
    Everyone loves to hate something! Pick a company and find something to hate about it and you'll most likely find something to hate in everyone you look at.
    If I could afford a GM Volt I would buy one. You can keep those Preshit's. Nothing is faultless not even you!
    7 Apr, 10:11 PM Reply Like
  • Budavar
    , contributor
    Comments (1387) | Send Message
     
    GM is a priceless stock
    At $15 still to mock.

     

    Folks are killed,
    Approval stilled.

     

    (Claim no copyright for my latest ditty =
    Claim puns multiple ditto.)
    7 Apr, 11:06 PM Reply Like
  • xamd
    , contributor
    Comments (400) | Send Message
     
    why should you want to claim copyright to your last ditty? Its as good as the GM it is mocking. Glad you know you aint a poet.
    8 Apr, 06:13 AM Reply Like
  • funfun
    , contributor
    Comments (2017) | Send Message
     
    Ode to the Chevy Cobalt

     

    There Once Was a Car Called 'Balt,
    Whose Switch Caused It to Halt,
    If You Tried to Pass,
    And Stepped on the Gas,
    You Might End Up In a Vault

     

    Copyright…funfun..
    8 Apr, 09:04 AM Reply Like
  • sandiegosam
    , contributor
    Comments (58) | Send Message
     
    Why did GM sell its Fremont facility to Tesla at the bottom of the financial crisis for $40 million...It has an appraised value of nearly 3 billion. They could have designed a kick-ass EV and manufactured the vehicle in that old facility. Instead, piss away another $450 million to build cars with no current demand. Give me a break!
    7 Apr, 11:18 PM Reply Like
  • fuzzymc
    , contributor
    Comments (102) | Send Message
     
    Great idea make more cars that nobody wants.
    8 Apr, 07:52 AM Reply Like
  • funfun
    , contributor
    Comments (2017) | Send Message
     
    Deadly Defects in the Chevrolet Impala

     

    In the meantime, simultaneously with this carefully timed GM PR bombast about the Volt, news breaks that you can now be impaled in your Chevrolet Impaler. Seems the software might have been faulty and air bags refuse to inflate in a severe crash.

     

    Does it ever end at this motorcar company chock full of fraud and cover-ups? Not a good prognosis for long-term investors, or short term for that matter in our humble opinion. …funfun..
    8 Apr, 09:10 AM Reply Like
  • airpup
    , contributor
    Comments (3) | Send Message
     
    Have any of you even drove or been in a volt? I own one (2014) and it is pretty awesome. On top of that, as long as you don't live in the middle of nowhere USA, the volt and over EV's are growing popular and will continue well into the future. Let's discuss relevant information regarding the stock in question on these comment boards, not stupid political nonsense. GM is a company that has brighter futures ahead and the volt is just one of the vehicles leading the way.
    9 Apr, 12:24 AM Reply Like
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