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Battery Show 2015: Genovation GXE Corvette EV designed for the 'Ring

The Genovation GXE all-electric Corvette has broken cover. At the Battery Show 2015 in Novi, MI, this week, the converted C6 Z06 Corvette that we first heard about back in August was tucked into a booth along the back wall. Don't let the demure location fool you. This is a muscle-y electric vehicle, ready to roar into the limited-run, expensive EV game. The Genovation GXE Corvette can go from 0-60 miles per hour in three seconds and has a top speed of 200 mph. The powertrain was designed and built in the US, and offers over 700 horsepower and over 600 pound-feet or torque. With a near 50/50 weight distribution, this is "a real driver's car," Genovation CEO Andrew Saul told AutoblogGreen. Saul said that the GXE was designed to do two hard laps at Nurburgring thanks to a 44-kWh battery pack uses the same sort of cylindrical 18650 cells that you can find in a Tesla. That translates to about 40-50 miles of fast, on-road driving, Saul said, or 150 miles on the New York City test cycle. That particular test, "simulates low speed urban driving with frequent stops," according to DieselNet. The car also has a 6-kW charger and a six-speed manual transmission and the adjustable regenerative braking levels can be controlled by paddles on the steering wheel. Of course, none of those performance figures have been proven yet because the GXE hasn't had a chance to hit the road. Saul said that it will take another three-to-four weeks to finish the build and then, finally, there will be a few weeks of road testing. This will include a quarter-mile run on a track as well as a trip to Nevada to do a several-mile top speed test. If all of that sounds like something you're interested in, then get ready to open your wallet wide and wait. Saul said that buying one will set you back $330,000 (just $290,000 if you bring your own C6 Z06). Genovation also won't be making all that many. Saul said he expects to put the GXE into limited production of under 200 units, starting off at maybe five or 10 a year. Featured Gallery Battery Show 2015: Genovation GXE All-Electric Corvette View 14 Photos Green Chevrolet AutoblogGreen Exclusive Electric exclusive corvette genovation

5 reasons why GM is cutting jobs, closing plants in a healthy economy

DETROIT — Even though unemployment is low, the economy is growing and U.S. auto sales are near historic highs, General Motors is cutting thousands of jobs in a major restructuring aimed at generating cash to spend on innovation. It's the new reality for automakers that are faced with the present cost of designing gas-powered cars and trucks that appeal to buyers now while at the same time preparing for a future world of electric and autonomous vehicles. GM announced Monday that it will cut as many as 14,000 workers in North America and put five plants up for possible closure as it abandons many of its car models and restructures to focus more on autonomous and electric vehicles. The reductions could amount to as much as 8 percent of GM's global workforce of 180,000 employees. The cuts mark GM's first major downsizing since shedding thousands of jobs in the Great Recession. The company also said it will stop operating two additional factories outside North America by the end of next year. The move to make GM get leaner before the next downturn likely will be followed by Ford Motor Co., which also has struggled to keep one foot in the present and another in an ambiguous future of new mobility. Ford has been slower to react, but says it will lay off an unspecified number of white-collar workers as it exits much of the car market in favor of trucks and SUVs, some of them powered by batteries. Here's a rundown of the reasons behind the cuts: Coding, not combustion CEO Mary Barra said as cars and trucks become more complex, GM will need more computer coders but fewer engineers who work on internal combustion engines. "The vehicle has become much more software-oriented" with millions of lines of code, she said. "We still need many technical resources in the company." Shedding sedans The restructuring also reflects changing North American auto markets as manufacturers continue to shift away from cars toward SUVs and trucks. In October, almost 65 percent of new vehicles sold in the U.S. were trucks or SUVs. That figure was about 50 percent cars just five years ago. GM is shedding cars largely because it doesn't make money on them, Citi analyst Itay Michaeli wrote in a note to investors. "We estimate sedans operate at a significant loss, hence the need for classic restructuring," he wrote. The reduction includes about 8,000 white-collar employees, or 15 percent of GM's North American white-collar workforce. Some will take buyouts while others will be laid off.

GM laying off more than 4,000 workers Monday morning

According to reports from Automotive News, The Detroit News, and CNN, General Motors plans to begin laying off more than 4,000 salaried workers starting Monday morning. In a statement to AN, a spokesperson for the automaker said, "We are not confirming timing. Our employees are our priority. We will communicate with them first." We've been expecting layoffs at General Motors since November, 2018. At the time, the Detroit-based automaker announced it would seek to shed 8,100 salaried employees, shut down five assembly plants in North America, and kill off several slow-selling models. One month earlier, GM offered buyout packages to 18,000 workers and said it would seek to cut its global workforce by 25 percent. A spokesperson said at the time the moves were "proactive steps to get ahead of the curve by accelerating our efforts to address overall business performance." The cost-cutting moves are expected to save GM up to $2.5 billion in 2019 and as much as $6 billion by 2020. David Kudla, CEO and chief investment strategist of Mainstay Capital Management, referred to the impending culling as "Black Monday" and told The Detroit News that the layoffs would begin around 7:30 a.m. and continue in waves throughout the coming days and weeks. GM plans to deliver on its fourth-quarter and full-year 2018 earnings report on Wednesday. President Donald Trump plans to deliver the annual State of the Union address a day earlier on Tuesday. We expect to hear plenty more from both sides over the next several days.