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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.

Kia Seltos, electric Cadillac and a looming Bronco | Autoblog Podcast #615

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder, and Associate Editor Byron Hurd makes his ABP debut. This week, they start with the cars they've been driving: the Jaguar XE, Kia Seltos, Hyundai Venue and Ford Escape. Then they dig into the news, including an upcoming Cadillac EV, Lincoln and Chevy sedans and the Ford Bronco. Finally, they help a listener replace his Jeep Patriot in the Spend My Money segment. Autoblog Podcast #615 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: Jaguar XE 300 R-Dynamic S Kia Seltos Hyundai Venue Ford Escape Cadillac bringing EV to New York Auto Show Chevy and Lincoln dealers say they still want sedans Ford tells dealers the Bronco is weeks away from its global debut Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: 2020 Ford Escape 2.0T #POV drive

Recharge Wrap-up: EV torque secrets, UC Davis maps future of biofuels

A UC Davis white paper maps out "Three Routes Forward for Biofuels," balancing investment risk with carbon benefits. The first option is "incremental," in which we tinker with the existing biofuel manufacturing infrastructure for small improvements over time. The "transitional" plan suggests integrating cellulosic production and other innovations with existing operations. The third route, called "leapfrogging," would mean building refineries based on new technology such as cellulosic and algae-based biofuels. The paper suggests ways the US could use these three routes together in different areas, and predicts the payoffs in terms of carbon emissions could be significant if the right people are willing to risk the capital. After all, financial advisers are always telling investors to diversify their portfolios to manage risk and rewards in the same way. Read more over at the UC Davis Institute of Transportation Studies. The Formula E Long Beach ePrix will offer free admission. The seventh round of the inaugural all-electric race season, which was moved from Los Angeles to the streets of Long Beach, will offer fans free grandstand and general admission. The race, which takes place on April 5, 2015, will use a 1.6-mile portion of IndyCar's Grand Prix of Long Beach. Read more at LA Times. Polaris is now offering its 2015 GEM electric vehicles, including the new street-legal eM1400 LSV. The passenger and utility vehicles come in two- to six-passenger configurations, many of which are street legal on roads with posted speed limits of up to 35 miles per hour. The eM1400 LSV utility vehicle seats two, offers 1,250 pounds of payload, 1,250 pounds of towing capacity, a top speed of 25 mph and a range of up to 45 miles. Its on-board charger plugs into any standard 110-volt outlet. Read more at Hybrid Cars and check out all the different configurations yourself at the Polaris website. In EVs, more torque does not always equal faster. Green Car Reports found this out when driving the Fiat 500e (with 147 pound-feet) against the similarly weighted Chevrolet Spark EV (with 400 pound-feet). The secret is, at least in part, in the gearing. The Fiat has a 9.6:1 reduction gear, making it quicker at lower speeds despite having far less available torque, while the Chevy uses a 3:1 ratio. The trade-off though, is in top speed. Furthermore, Chevy electronically limits the torque delivery at low speeds, as 400 pound-feet is a lot of launch for the little Spark EV to handle.