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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.

More 2017 Chevy Bolt powertrain details revealed

We've seen the production version of the Chevy Bolt electric vehicle. We've driven a prototype version. And now it's time to get some details about the powertrain. After the production version's reveal at CES last week, GM trotted out the Bolt EV for its Detroit debut this morning. The company brought with it a bunch of technical specifications. We'll start with the most important part of an EV: the battery. GM has put a 60-kWh lithium-ion battery that weighs just just 960 pounds into the floor of the Bolt. As previously announced, the Bolt's 288 cells will be able to go over 200 miles on a full charge. That full charge takes nine hours on a Level 2 EVSE thanks to the onboard 7.2-kW charger. Of course, a full charge won't be that important most days, which is why GM says that you can get 50 miles of range in "less than two hours" on Level 2. There's a SAE Combo DC fast charging option as well. The battery will have an eight-year/100,000-mile warranty. The Bolt will be able to sprint up to 60 miles per hour in "less than seven seconds" thanks to a 150-kW/200 horsepower motor in the Bolt. The motor is a new GM design that can produce up to 266 pound-feet of torque. The Bolt uses a shift-by-wire system and an, "offset gear and shaft configuration tailored to meet efficiency and performance targets." The Bolt EV's powertrain has a 7.05:1 final drive ratio. You can read all of the details direct from GM below. Related Video: Drive Unit and Battery at the Heart of Chevrolet Bolt EV Engineers focus on careful balance of range and performance DETROIT, Mich. – The 2017 Chevrolet Bolt EV does more than set a new benchmark for affordable, long-range EV driving. It also raises the bar when it comes to driving performance. Engineers developed the Bolt EV's propulsion system to offer more than an estimated 200 miles (based on GM estimates) and a delightful driving experience that's more akin to a compact sports sedan than a small utilitarian crossover. "Being the leader in range and affordability means nothing if the car isn't going to excite you each time you get behind the wheel," said Josh Tavel, Chevrolet Bolt EV chief engineer. "That's why the team was tasked with delivering a propulsion system that would also make the Bolt EV an electric vehicle that owners would love to drive." Single Motor Drive Unit Like most EVs on the road, the Bolt EV's drive system uses a single high capacity electric motor to propel the car.

5 classic trucks and their polarizing modern revivals

EVs are helping eliminate Detroit's gas-guzzling problem. Some revivals of gas-powered classics are getting the EV treatment.  But not every revived model looks exactly like its original counterpart. We're in a new era of hulking Detroit metal, and you can thank EVs. Americans can't get enough of their big, beefy trucks and SUVs. But for many years, some of the biggest gas guzzlers fell out of fashion as gas prices rose and emissions regulations tightened. But in the past few years, some of the most iconic American truck nameplates have been brought back to life with electric motors, like the GMC Hummer. In other cases, as with the Ford Bronco, improvements in engine technology and more interest in rugged adventure vehicles made a gas-powered revival possible. Even some revivals that started as gas-powered, like the Chevy Blazer and the Jeep Wagoneer, are now getting electrified spinoffs. (Even if they don't always look quite as sleek as their original inspiration.) Here are side-by-sides of five classic American trucks and their modern counterparts. The Jeep Wagoneer 1975 Jeep Wagoneer and 2024 Electric Jeep Wagoneer SStellantis After a long wait, Jeep released its revival of the classic Wagoneer and Grand Wagoneer in 2020. Starting later this year, an electric version of the luxury Jeep SUV will join the Wagoneer lineup. The Chevrolet Blazer A 1973 Chevrolet Blazer and a 2024 Chevrolet Blazer EVGetty Images, General Motors The Chevrolet Blazer was first rebooted in 2019 as a sporty family SUV. The modern Blazer shares zero resemblance to its boxy, off-roading older sibling, but it has still managed to become one of Chevy's more popular SUVs in recent years. The Blazer EV came later, and was one of the first models GM built on its new Ultium battery platform. The Hummer A Hummer H2 and the 2023 Hummer EV pickup truckGetty Images, General Motors Once the poster child for Detroit's big, bad gas guzzlers, the Hummer got new life as an electric pickup truck in 2021. The Ford Bronco A 1971 Ford Bronco and a 2022 Ford BroncoFord Motor Co. After a rouge group of engineers and designers inside Ford spent years trying to breathe life back into the Blue Oval's boxy off-roader, the Ford Bronco was finally resurrected in 2020 amid a rise in popularity for rugged adventure vehicles. The Ford Ranger 1985 Ford Ranger and a 2024 Ford RangerFord Motor Co.