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GM promises to add 20 EVs and fuel-cell cars to lineup, paid for by SUVs

DETROIT — General Motors outlined plans on Monday to add 20 new battery electric and fuel-cell vehicles to its global product lineup by 2023, financed by robust profits from sales of gasoline-fueled trucks and sport utility vehicles in the United States and China. "General Motors believes in an all-electric future," GM global product development chief Mark Reuss said on Monday during a briefing at the company's suburban Detroit technical center. Future generations of GM electric vehicles "will be profitable," Reuss said, but added it was not clear when GM could make all its new vehicle offerings zero-emission electric cars. Regulators in China and some European countries have floated proposals to ban internal combustion engines by 2030 or 2040. "We will continue to make sure our internal combustion engines will get more and more efficient," Reuss said. GM shares were up more than 4 percent in midday New York trading on positive comments from Rod Lache, auto analyst at Deutsche Bank. Automakers, including electric vehicle market leader Tesla, lose money on electric cars because battery costs are still higher than comparable internal combustion engines. The company offered sneak peeks of three EV prototypes: a Buick SUV, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM funds its forays into new technology using a river of cash generated by old-technology vehicles popular with its core customer base in the United States heartland. In comparison, Tesla has burned through an estimated $10 billion in cash and has yet to show a full year profit. GM earned more than 90 percent of its $12.5 billion in pretax profits last year in North America, amid robust demand for its lineup of large sport utility vehicles and pickup trucks. The company's profitable operations in China rely on consumer demand for an expanding lineup of gasoline powered SUVs. GM has previously announced plans to make some of its future electric vehicles capable of driving themselves in robot taxi fleets. The company offered sneak peeks of three electric vehicle prototypes: a Buick brand sport utility vehicle, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM collaborated with Korean battery maker LG Chem to build the Bolt battery system. Company officials did not say what companies would supply batteries for the larger fleet of vehicles promised by 2023. Fuel-cell vehicles will also play a role in GM's future, the company said.

The last Buick Cascada unceremoniously rolls off the assembly line

Motorists in the market for a new Buick Cascada need to act fast. Peugeot-owned Opel has built the last example of the drop-top model in its Gliwice, Poland, factory, and there's no replacement in sight. Buick announced the Cascada's demise in early 2019, and GM Authority learned the model went out unceremoniously. There's no indication that the final example received a commemorative plaque on its dashboard, or is headed to a private collection; photos of it aren't even available. The dealership who ordered it might not know it's about to receive the last specimen of the breed. As a non-luxury, front-wheel-drive convertible, the Cascada was marooned on an island that Buick's rivals abandoned halfway through the 2010s. The Chrysler 200 Convertible and the Volkswagen Eos were discontinued after the 2014 and 2015 model years, respectively. Landing in a class of one likely raised more than a few eyebrows in Buick's product planning division, but it was a semi-enviable position that helped the firm sell about 17,000 units of the Cascada between the 2016 and 2019 model years. It proudly pointed out about 60 percent of buyers were new to General Motors. Left-hand-drive examples of the Cascada were sold under the Buick and Opel banners. Right-hand-drive models joined the Vauxhall range in the United Kingdom, and they wore a Holden emblem in Australia. The four flavors were identical with the exception of some brand-specific trim pieces and powertrains. None will get a successor; the aforementioned carmakers are no longer operating under the same roof, and the global convertible segment is steadily shrinking.  The Cascada's multinational provenance made more sense before General Motors sold its Opel and Vauxhall divisions to PSA Groupe, the Paris-based carmaker that owns Peugeot, Citroen and DS. The French firm pledged to keep producing cars for Buick for as long as necessary, but the former sister companies tacitly agreed to stop co-developing vehicles. The sedan and station wagon variants of the Regal are now the only Opel-designed, PSA-built model left in the the Buick portfolio.

GM announces net 220 job increase as Trump visits Michigan

GM announced today that about 900 jobs would be added (or, importantly, retained) ahead of President Trump's arrival in Michigan, where he is expected to discuss his plan to roll back fuel economy standards. The timing of the announcement is almost certainly not coincidental, as appending it to a Trump visit gives it a higher profile and dovetails with the President's jobs agenda. It's less likely the decision itself was made for those reasons, but the free PR boost is a nice bonus. As for those 900 jobs themselves, they aren't all new jobs. The only net gain is approximately 220 jobs at the Romulus Powertrain Plant, which produces the 10-speed automatic transmission that's proliferating through the company's lineup. The 180 jobs at Flint Assembly and 500 jobs at Lansing Delta Township are retained jobs – that is to say, spots the company found for workers who would otherwise have been laid off. By the way, the Flint jobs will help with production of heavy-duty pickups, and the Lansing jobs are to produce the Chevrolet Traverse and Buick Enclave. Finding jobs for manufacturing workers in the auto sector, whether new or retained, is admirable. No matter how GM couches it, the company has created or retained a total of 7,000 jobs this year, and its total reinvestment in US production is around $1 billion. But these decisions are business ones, not political ones – timing the announcements to make them seem inspired by economic policy, or the political situation, is simply smart PR. Related Video: Image Credit: Bill Pugliano/Getty Images Celebrities Government/Legal Buick Cadillac Chevrolet GMC