Home
What's new
Latest activity
Authors
Store
Latest reviews
Search products
Forums
New posts
Search forums
What's new
New posts
New listings
New products
New profile posts
Latest activity
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
Cart
Cart
Loading…
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Search titles only
By:
Menu
Log in
Register
Navigation
Install the app
Install
More options
Change style
Contact us
Close Menu
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
Interesting Car/Truck Manufacturer News
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Weather Man" data-source="post: 16529348" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>GM hits back on Trump effort to bar California emissions standards - Reuters</strong></span></p><p>Nov. 23, 2020 2:19 PM ET|About: <a href="https://seekingalpha.com/symbol/GM" target="_blank">General Motors Company (GM)</a>|By: <a href="https://seekingalpha.com/user/32439325/profile" target="_blank">Niloofer Shaikh</a>, SA News Editor </p><p></p><p></p><p>With intention to work with President-elect Joe Biden, who has made <a href="https://seekingalpha.com/news/3634924-electric-vehicle-industry-seen-benefiting-under-biden?source=news_body_link" target="_blank">boosting electric vehicles a top priority</a>, General Motors (<a href="https://seekingalpha.com/symbol/GM?source=news_body_link" target="_blank">GM</a> +4.4%) will no longer back the Trump administration’s effort to bar California from setting its own emissions rules in an ongoing court fight.</p><p></p><p>GM Chief Executive Mary Barra said in a letter to environmental groups it was “immediately withdrawing from the preemption litigation and inviting other automakers to join us.”</p><p></p><p>Barra spoke to California Governor Gavin Newsom and said in her letter she believes “the ambitious electrification goals of the president-elect, California, and General Motors are aligned, to address climate change by drastically reducing automobile emissions.”</p><p></p><p>GM has laid out an ambitious strategy to boost EV sales. It plans to increase spending on future electric models by <a href="https://seekingalpha.com/news/3638049-general-motors-commits-to-even-ev-investments-still-quiet-on-nikola?source=news_body_link" target="_blank">35% to more than $27B</a>, It is also spending $2B to <a href="https://seekingalpha.com/news/3623739-gm-spending-2b-to-transition-tennessee-plant-for-electric-vehicles?source=news_body_link" target="_blank">transition Tennessee plant</a> for electric vehicles and is converting Detroit-Hamtramck plant to produce only electric vehicles.</p><p></p><p>In 2019, GM joined Toyota Motor (NYSE:<a href="https://seekingalpha.com/symbol/TM?source=news_body_link" target="_blank">TM</a>), Fiat Chrysler Automobiles NV (NYSE:<a href="https://seekingalpha.com/symbol/FCAU?source=news_body_link" target="_blank">FCAU</a>) and other automakers in backing the Trump administration in its <a href="https://seekingalpha.com/news/3510478-gm-toyota-others-back-trump-in-california-emissions-lawsuit?source=news_body_link" target="_blank">bid to bar California</a> from setting its own fuel efficiency rules or zero-emission requirements for vehicles.</p><p></p><p>Other car companies including Ford (NYSE:<a href="https://seekingalpha.com/symbol/F?source=news_body_link" target="_blank">F</a>), Honda (NYSE:<a href="https://seekingalpha.com/symbol/HMC?source=news_body_link" target="_blank">HMC</a>) and Volkswagen (<a href="https://seekingalpha.com/symbol/VWAGY?source=news_body_link" target="_blank">OTCPK:VWAGY</a>) which announced a voluntary deal with California in July 2019 on emissions rules, did not intervene on the administration’s side.</p><p></p><p>Other automakers backing the Trump administration include Hyundai Motor (<a href="https://seekingalpha.com/symbol/HYMLF?source=news_body_link" target="_blank">OTCPK:HYMLF</a>), Mazda (<a href="https://seekingalpha.com/symbol/MZDAY?source=news_body_link" target="_blank">OTCPK:MZDAY</a>), Nissan Motor (<a href="https://seekingalpha.com/symbol/NSANY?source=news_body_link" target="_blank">OTCPK:NSANY</a>) , Kia Motors (<a href="https://seekingalpha.com/symbol/KIMTF?source=news_body_link" target="_blank">OTCPK:KIMTF</a>) and Subaru (<a href="https://seekingalpha.com/symbol/FUJHY?source=news_body_link" target="_blank">OTCPK:FUJHY</a>).</p><p></p><p>California is the largest U.S. auto market, accounting ~11% of all U.S. vehicle sales.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16529348, member: 137766"] [size=6][b]GM hits back on Trump effort to bar California emissions standards - Reuters[/b][/size] Nov. 23, 2020 2:19 PM ET|About: [URL='https://seekingalpha.com/symbol/GM']General Motors Company (GM)[/URL]|By: [URL='https://seekingalpha.com/user/32439325/profile']Niloofer Shaikh[/URL], SA News Editor With intention to work with President-elect Joe Biden, who has made [URL='https://seekingalpha.com/news/3634924-electric-vehicle-industry-seen-benefiting-under-biden?source=news_body_link']boosting electric vehicles a top priority[/URL], General Motors ([URL='https://seekingalpha.com/symbol/GM?source=news_body_link']GM[/URL] +4.4%) will no longer back the Trump administration’s effort to bar California from setting its own emissions rules in an ongoing court fight. GM Chief Executive Mary Barra said in a letter to environmental groups it was “immediately withdrawing from the preemption litigation and inviting other automakers to join us.” Barra spoke to California Governor Gavin Newsom and said in her letter she believes “the ambitious electrification goals of the president-elect, California, and General Motors are aligned, to address climate change by drastically reducing automobile emissions.” GM has laid out an ambitious strategy to boost EV sales. It plans to increase spending on future electric models by [URL='https://seekingalpha.com/news/3638049-general-motors-commits-to-even-ev-investments-still-quiet-on-nikola?source=news_body_link']35% to more than $27B[/URL], It is also spending $2B to [URL='https://seekingalpha.com/news/3623739-gm-spending-2b-to-transition-tennessee-plant-for-electric-vehicles?source=news_body_link']transition Tennessee plant[/URL] for electric vehicles and is converting Detroit-Hamtramck plant to produce only electric vehicles. In 2019, GM joined Toyota Motor (NYSE:[URL='https://seekingalpha.com/symbol/TM?source=news_body_link']TM[/URL]), Fiat Chrysler Automobiles NV (NYSE:[URL='https://seekingalpha.com/symbol/FCAU?source=news_body_link']FCAU[/URL]) and other automakers in backing the Trump administration in its [URL='https://seekingalpha.com/news/3510478-gm-toyota-others-back-trump-in-california-emissions-lawsuit?source=news_body_link']bid to bar California[/URL] from setting its own fuel efficiency rules or zero-emission requirements for vehicles. Other car companies including Ford (NYSE:[URL='https://seekingalpha.com/symbol/F?source=news_body_link']F[/URL]), Honda (NYSE:[URL='https://seekingalpha.com/symbol/HMC?source=news_body_link']HMC[/URL]) and Volkswagen ([URL='https://seekingalpha.com/symbol/VWAGY?source=news_body_link']OTCPK:VWAGY[/URL]) which announced a voluntary deal with California in July 2019 on emissions rules, did not intervene on the administration’s side. Other automakers backing the Trump administration include Hyundai Motor ([URL='https://seekingalpha.com/symbol/HYMLF?source=news_body_link']OTCPK:HYMLF[/URL]), Mazda ([URL='https://seekingalpha.com/symbol/MZDAY?source=news_body_link']OTCPK:MZDAY[/URL]), Nissan Motor ([URL='https://seekingalpha.com/symbol/NSANY?source=news_body_link']OTCPK:NSANY[/URL]) , Kia Motors ([URL='https://seekingalpha.com/symbol/KIMTF?source=news_body_link']OTCPK:KIMTF[/URL]) and Subaru ([URL='https://seekingalpha.com/symbol/FUJHY?source=news_body_link']OTCPK:FUJHY[/URL]). California is the largest U.S. auto market, accounting ~11% of all U.S. vehicle sales. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
Interesting Car/Truck Manufacturer News
Top