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Frustrated GM investors ask what more Mary Barra can do

DETROIT — General Motors Co Chief Executive Mary Barra has transformed the No. 1 U.S. automaker in her almost five years in charge, but that is still not enough to satisfy investors. Ahead of third-quarter results due on Oct. 31, GM shares are trading about 6 percent below the $33 per share price at which they launched in 2010 in a post-bankruptcy initial public offering. The Detroit carmaker's stock is down 22 percent since Barra took over in January 2014. After hitting an all-time high of $46.48 on Oct. 24, 2017, the shares have declined 33 percent. In the same period, the Standard & Poor's 500 index has climbed 7.8 percent. Several shareholders contacted by Reuters said GM could face a third major action by activist shareholders in less than four years if the share price does not improve. "I've been expecting it," said John Levin, chairman of Levin Capital Strategies. "It just seems a tempting morsel to somebody." Levin's firm owns more than seven million GM shares. Barra has guided the company through the settlement of a federal criminal probe of a mishandled safety recall, sold off money-losing European operations, and returned $25 billion to shareholders through dividends and stock buybacks from 2012 through 2017. GM declined to comment for this story, but the company's executives privately express frustration with the market's reluctance to see it as anything more than a manufacturer tied mainly to auto market sales cycles. GM's profitable North American truck and SUV business and its money-making China operations are valued at just $14 billion, excluding the value of GM's stake in its $14.6 billion Cruise automated vehicle business and its cash reserves from its $44 billion market capitalization. The recent slump in the Chinese market, GM's largest, and plateauing U.S. demand are ratcheting up the pressure. GM is one of the few global automakers without a founding family or a government to serve as a bulwark against corporate raiders. In 2015, a group led by investor Harry Wilson pressed GM to launch a $5 billion share buyback, and commit to what is now an $18 billion ceiling on the level of cash the company would hold. In 2017, GM fended off a call by hedge fund manager David Einhorn to split its common stock shares into two classes. Einhorn, whose firm still owned more than 21 million shares at the end of June, declined to comment about GM's stock price. Other investors said there were no clear alternatives to Barra's approach.

Here are all the EVs with 800V charging available in 2024

As technology advances, electric cars are improving their fast-charging times. That means less time spent waiting at a DC public charger when you’re out on the road. While Level 3 chargers used to provide a maximum of 150 kilowatts of power, 350-kW chargers are become more common, making for super-fast charging Â… if your car is capable of taking advantage of it. So how do automakers improve the charging speed of their EV batteries? Some are turning to higher voltage, specifically 800V charging. What's the difference between 800-volt charging and 400-volt charging? So how does 800V charging improve upon the more common 400V EVs? Put simply, the higher the voltage, the less amperage (current) it requires to charge. In other words, with more voltage, you get more wattage (power, aka charge rate) from the same amperage (current). 800V architecture is also more efficient, with less electrical resistance, so it can use thinner cables and smaller, lighter components while needing less cooling. The tradeoff is that it is more costly, and guess who that cost gets passed on to. While automakers don't break down their pricing to show how much more you're paying for that 800V system, you'll just have to evaluate any potential purchases as a whole, and make your decision based on overall pricing of the vehicle. Thankfully, the 800V EVs on sale now are generally ones we like. Now, 800V charging capability doesn't necessarily mean an EV has 800V vehicle architecture. For instance, the GMC Hummer EV and Chevy Silverado EV operate at 400V, but with their dual battery packs, can switch to 800V when charging by temporarily connecting those packs in series. Currently, there are only a handful of EVs available with 800V charging. But if you are going to find yourself taking longer trips in your EV and using DC fast chargers more often, you might want to consider choosing one with this faster charging capability. With that in mind, these are the EVs available with 800V charging, either on sale now or coming in 2024. 800-volt EVs available in 2024 Audi E-Tron GT Chevrolet Silverado EV Genesis GV60 Genesis Electrified G80 Genesis Electrified GV70 GMC Hummer EV Pickup GMC Hummer EV SUV GMC Sierra EV* Hyundai Ioniq 5 Hyundai Ioniq 6 Kia EV6 Kia EV9 Lotus Eletre* Lotus Emeya* Lucid Air Lucid Gravity* Porsche Macan Electric* Porsche Taycan Ram 1500 REV* Tesla Cybertruck *Coming later in 2024 Green Audi Chevrolet Genesis GMC Hyundai Kia Lotus Porsche Tesla Electric Lucid EV charging

GM tells owners not to use SUV wipers due to fire risk

General Motors is recalling 31,685 examples of the 2016 Buick Enclave, Chevrolet Traverse, and GMC Acadia because a short circuit in the windshield wiper motor can potentially lead to a fire. Due to the danger, the company is asking owners not to use the wipers until the problem is fixed, according to The Detroit Free Press citing the Associated Press. A manufacturing defect in the wiper motor cover means that the electrical terminals can come into contact and cause a short. The part could "melt, smoke, or catch fire," according to a statement from GM. The company will get them fixed immediately, and dealers will replace the cover. If there's bad weather at the time the owner specifies to get the recall work completed, the automaker will come pick up the crossovers. Depending on parts availability, the automaker will supply a rental car for customers, as well. The issue was discovered at the factory. According to the company's statement, only 6,405 actually made it to customers, and they were notified immediately by overnight letter. The rest were in dealer stock. The affected crossovers carry build dates between August 18, 2015 and September 24, 2015. Of those, there are 29,295 in the US and 1,073 in Canada. GM Statement: General Motors has told the National Highway Traffic Safety Administration that it will recall approximately 29,295 2016 model year Chevrolet Traverse, Buick Enclave and GMC Acadia SUVs in the U.S. because the front windshield wiper motor may overheat when in use because of a manufacturing defect. In some cases, the front windshield wiper motor cover may melt, smoke or catch fire. The approximately 6,405 customers who have taken delivery of these vehicles were notified by overnight letter and are urged to contact a GM dealer as soon as possible to arrange a service appointment. These customers should not use the front windshield wipers until they have been repaired. If weather conditions prevent driving the vehicle without using the windshield wipers, GM will arrange to pick up the vehicle for servicing. If repair parts are unavailable, GM will provide a rental car at no cost until parts become available. The total population, including Canada, Mexico and exports, is approximately 31,685. About 25,280 of these vehicles are in dealer stock and will not be sold until repairs are made.