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General Motors makes a $1B commitment to next-gen ICE vehicles

Jun. 05, 2023 10:05 AM ETGeneral Motors Company (GM)By: Clark Schultz, SA News Editor28 Comments
General Motors sign


General Motors Company (NYSE:GM) announced plans on Monday to invest more than $1B in two of its manufacturing sites in Flint Michigan.

The Detroit automaker plans to prepare the Flint Assembly and Flint Metal Center plants for production of the

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Comments (28)

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Tdot profile picture
... For heavy duty trucks, much like Ford's strategy to keep some ICEVs in play even to mid-century.
John_zhang ming profile picture
Many visionary fund companies have recently invested the charging sector leader in China
RickJensen profile picture
@John_zhang ming
Most people outside of China will no longer invest in China. And if China starts to act badly, their economy will get crushed.
Not worth the risk.
vqx41776 profile picture
In my opinion, we should invest in the charging sector because the trend is toward the development of NEVs.
vqx41776 profile picture
GM's investment of $1 billion to revive fuel vehicles is confusing.
John_zhang ming profile picture
John_zhang ming profile picture
GM's investment of $1 billion to revive fuel vehicles is confusing. In my opinion, we should invest in the charging sector because the trend is toward the development of NEVs.
Keep in mind that hydrogen is internal combustion, and zero emission. It's easy to change a gas/diesel engine to a hydrogen engine - form, fit, function, interface - one day diesel truck, the next day off the line comes a hydrogen truck. Investing a billion in "ICE" trucks makes sense.

And GM trucks will be equipped with GM autonomy, at some level. Highway autonomy is easy, city not so much, but in 2-4+ years, why not? GM has Ultra Cruise coming, and has Cruise - it's not a big leap to offer autonomy in large trucks, especially in repeat routes, and a lot of trucking goes back and forth in routine, repeated, supply chain routes.

A billion in trucks makes perfect sense - just add a little thinking that involves looking down the road (so to speak) a little - think about what's coming. That's what CEO's get paid to do, and that's how successful investors make money....
Randy Carlson profile picture
...and Tesla makes similar investments in battery-electric Class 8 trucks. Oh, and even more investment in battery electric pickup trucks...

Maybe that has something to do with the differences in market-cap. But who can say?
@Randy Carlson

Hopefully, Tesla is increasing its investment in FSD.

"Tesla Full Self Driving (Beta) — 1st Notable Improvement In 1½ Years"
by Zachary Shahan, CleanTechnica director, chief editor, and CEO


Elon, on the other hand, continues his "Tomorrow, Tomorrow" refrain:

Tesla Will Have Its “ChatGPT Moment” With Full Self-Driving Cars, Says Elon Musk
eeeW profile picture
@Agile Trader musk is forever a huckster on FSD
@Randy Carlson Elon will bring GM to its knees. Ford saw it coming and got down willingly.
Smart move. That industry leading full-size truck business pays a lot of bills.

They are whistling in the wind, but they are also trying to develop a little more positive narrative for the workers heading into the UAW talks
GM is making these investments to protect its high-margin full-size truck business. U.S. states, including California, are not banning ICE vehicle sales until 2035.

“Full-size Truck U.S. Sales Report for 2022: GM Is Still On Top, Ram Slides Down – Here Is What Happened”


“Sales: Full-size Pickup Trucks Have a Bad Year in 2021 – GM Trucks Are Still On Top”

Maybe they realized that the people who are excited about BEVs wouldn't be caught dead in one of their vehicles.
RickJensen profile picture
Mary can't seem to make up her mind.
"Oct 1, 2021 — General Motors said Thursday that it would phase out petroleum-powered cars and trucks and sell only vehicles that have zero tailpipe emissions"
--Is this like when Cruise fired all those engineers, so that they could double down on growth?

So now they are spending 1B, so that they can "phase out". Maybe they should spend 2B so they can phase out twice as fast.
sam026 profile picture
So it's all or nothing not do both?
RickJensen profile picture
@sam026 If you are going to exit, exit.
Investors need to see you carry through on what you say you will do. And if you change your mind, do it as quickly as possible and explain why.
sam026 profile picture
Let's see 80% market share ICE, 20% EV or 100% both. Boy, tough call Rick.
"It also said to highlight the company’s commitment to continue providing customers a strong portfolio of ICE vehicles for years to come."

But .. but .. but ... ICE vehicles will be banned from sale by 2030, no more fossil fuels, this sounds like a foolish investment of capital to me.

Drill Baby Drill !

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