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GM to cut production at 5 plants in North America, kill several models

DETROIT/WASHINGTON — General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce in the face of a stagnant market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles. The announcement is the biggest restructuring in North America for the U.S. No. 1 carmaker since its bankruptcy a decade ago. GM said it will take pre-tax charges of $3 billion to $3.8 billion to pay for the cutbacks, but expects the actions to improve annual free cash flow by $6 billion by the end of 2020. GM plans to halt production next year at three assembly plants: Lordstown, Ohio, Hamtramck, Michigan, and Oshawa, Ontario. The company also plans to stop building several models now assembled at those plants, including the Chevrolet Cruze, the Cadillac CT6 and the Buick LaCrosse, the sources said. Sources said the Chevrolet Volt, Impala and Cadillac XTS would also be discontinued. Signs of the demise of six passenger-car models have been swirling since July. Plants in Baltimore, Maryland, and Warren, Michigan, that assemble powertrain components have no products assigned to them after 2019 and thus are at risk of closure, the company said. It will also close two factories outside North America, but did not identify those plants. The AP reported that 14,700 jobs would be affected. Some 8,100 of those would be white-collar jobs reduced through buyouts or layoffs. The No. 1 U.S. automaker signaled the latest belt-tightening in late October when it offered buyouts to 50,000 salaried employees in North America. The company also said it will cut executive ranks by 25 per cent to "streamline decision making." Some 6,000 factory workers could lose their jobs or be transferred to other plants. Its shares were last up 6.2 percent at $38.16. Tariff 'headwinds' and cost-cutting GM Chief Executive Officer Mary Barra told reporters on Monday the company can reduce annual capital spending by $1.5 billion and increase investment in electric and autonomous vehicles and connected vehicle technology because it has largely completed investing in new generations of trucks and sport utility vehicles. Some 75 percent of its global sales will come from just five vehicle architectures by early in the 2020s. It plans to reduce annual capital spending to $7 billion by 2020 from an average of $8.5 billion a year during the 2017-2019 period.

What are the odds an actual Cadillac EV looks anything like this?

The Cadillac EV concept sure looks neat. It's all-electric, too, which is even neater. Unfortunately, it's a concept car, and when it comes to concept cars with Cadillac badges on them, it's best not to get too excited. For instance, you might recall this exquisite piece of automotive art. It was called the Elmiraj. You might recall the production version became the bold face of a new Cadillac and inspired a renaissance for the brand. Jay-Z drives one. Oh wait, no he doesn't. It was never made, nor was anything like it made. This is the Cadillac Escala. It has certainly inspired design cues on production Cadillacs, most notably the just-revealed XT6. However, besides those cues, it's a pretty anonymous large crossover. Hardly anything as stunning as the Escala. Now, perhaps the CT5 will be a dead-ringer, but we wouldn't get our hopes up. Then there's this, the Ciel. Not to be confused with an Acura CL, it was 100 feet long, a convertible and purple. This was also not made. OK, we can see why. And finally, this is the Cadillac Sixteen. As the name suggests, it had 16 cylinders. That's a lot. The most you can get in a Cadillac today is half that many. Now, to be fair, most manufacturers produce concept cars that have zero chance of production. They are meant to serve as inspiration for future designs, showcase future technologies or just draw attention to the brand. The problem with the Cadillac concepts is that they're not that fanciful. Those aren't pod-like Jetsons cars up there. They aren't this nonsense. They look like modern interpretations of the exact sort of grandiose cars Cadillac used to make. The very cars that made Cadillac the "Cadillac of the World." You know, like this. I'm not talking about literal tail fins and pink paint, but that's a CADILLAC. It's confident. It's its own thing. It doesn't need to beat BMW around the Nurburgring to prove something to someone somewhere. The Elmiraj was also a CADILLAC. The XT6 literally wears a Cadillac badge, but it could be anything. By contrast, Lincoln is doing a much better job of tapping into the spirit of its grand past with the Navigator, Aviator and suicide-doored Continental. Nowhere is that better seen than in the cabins of the XT6 and Aviator. One is swank. The other is not. But back to where we started: that EV concept. You'll note that it doesn't actually have a name.

GM executive chief EV engineer says reducing cost of plug-in vehicles is 'huge priority'

As we know, another major automaker investing heavily in electrified vehicles is General Motors, and it's doing things much differently than rivals BMW, Ford or Nissan. The Chevrolet Volt extended-range EV is a modest seller at its $35,000 sticker price but a huge hit with owners. The Chevy Spark BEV, still in limited availability, puts smiley faces on its owners and drivers. The just-introduced Cadillac ELR, a sharp-looking, fun-driving $76,000 luxocoupe take on the Volt's EREV mechanicals, has admittedly low sales expectations. With this interesting trio in showrooms and much more in the works, the third vehicle electrification leader I collared for an interview at Detroit's North American International Auto Show (see #1 and #2) was Pam Fletcher, GM's executive chief engineer, Electrified Vehicles. ABG: Why do your EREVs need four-cylinder power to extend their range when BMW's i3 makes do with an optional 650 cc two-banger? "We designed [the Volt and the ELR] to go anywhere, any time" - Pam Fletcher PF: I get that question all the time: why not something smaller? You don't really need that much. You use the electric to its ability, then you just need to limp. But we designed those cars to go anywhere, any time, and we don't want their performance to be compromised. If you're driving through the mountains, we don't want you to be crawling up grades, or to be limited on any terrain. So it's optimized to be able to travel literally the biggest grades and mountain roads around the globe at posted speeds. Because what if you can't? Another good reason: when the engine is on, you have to run it wide open throttle, max speed, most of the time. And while we can do a lot with acoustics, and the ELR has active noise cancelation, a small-displacement, low cylinder-count engine at high speed, high load all the time isn't something you want to live with. That's how we came up with the balance we did among the key factors of performance, NVH [noise, vibration and harshness] and range. ABG: Where you go from here? Is the range-extender engine due for an update? PF: We know and love the current Volt, and there is still a lot of acclaim about it, so we think it's a good recipe. But we are heavily in the midst of engineering the next-generation car, which I think everyone will love and be excited about.