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GM won't pay owners of recalled cars for lost value

Kenneth Feinberg, the man in charge of the General Motors compensation fund dealing with the its widespread ignition switch woes, has issued an informal, two-letter response to the plaintiffs in more than 70 lawsuits seeking redress for lost resale value of their Cobalts: "No." The cases were recently combined into one, but Feinberg told The Detroit News that the fund will deal "only with death and physical injury claims," and that "perceived diminished value" will get no consideration.
ALG, the firm specializing in establishing residual values, determined that Cobalt owners had lost $300 compared to the segment competition and doesn't envision any long-term effects from the recall situation. Feinberg's statement comes in advance of public details on how the compensation fund will work and adheres to GM's long-held position on the matter. The company has already asked a judge to throw out such suits using the pre-bankruptcy defense, even as it stopped using that defense in cases of injury and death.
With plenty of potential gain from the GM suit, however, don't expect the plaintiffs to give up yet. When Toyota was sued for the same reason during the unintended acceleration debacle, it eventually settled the case for between $1 billion and $1.4 billion just to get it over with. Since the 85 law firms involved in the Toyota litigation took home more than $250 million of that total, we shouldn't expect the attorneys to give up on a GM payout, either.

GM says over 40% of new China launches in next five years will be EVs

SHANGHAI — General Motors is planning an electric car offensive in China with more than 40% of its new launches in the country over the next five years set to be electric vehicles (EVs), the U.S. carmaker said on Wednesday. GM's electric vehicles, many of which will be all-electric battery cars, will be manufactured in China with almost all parts coming from local suppliers, the company said in a statement released at its Tech Day event in Shanghai. Reuters reported earlier on Wednesday that GM was planning to overhaul its Chinese line-up to stem a slide of sales after more than two decades of growth in a country that contributes nearly a fifth of its profit. GM's new China boss Julian Blissett told Reuters that new technologies, such as EVs and cars with near hands-free driving for highways, would play a key role in GM's China initiatives, which are part of a push to get annual sales in the country back to the 4 million peak it hit in 2017. GM did not say in its statement how many new or significantly redesigned models it was planning to launch in China over the next five years. "China will play a crucial role in making our vision a reality," GM CEO Mary Barra said in the statement, referring to its initiative to create what it describes as a future of "zero crashes, zero emissions and zero congestion" through electrification and smart-driving technologies. GM has said it plans to invest more than $20 billion in electric and automated vehicles globally by 2025. It was not clear how much of that investment will be spent in China. (Reporting by Norihiko Shirouzu in Shanghai; Editing by David Clarke) Related Video: Green Buick Cadillac Chevrolet GM Electric China

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