financetom
Business
financetom
/
Business
/
GM ending production of Cadillac XT4 SUV as it shifts to electric vehicles
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
GM ending production of Cadillac XT4 SUV as it shifts to electric vehicles
Nov 9, 2024 12:44 PM

Nov 7 (Reuters) - General Motors ( GM ) said on Thursday

it will end production of the gas-powered Cadillac XT4 SUV in

January as it shifts production at its Kansas plant to electric

vehicles.

The Detroit automaker is investing $390 million at its

Fairfax, Kansas, assembly plant to build next-generation

Chevrolet Bolt EVs. GM plans to end production of its Chevrolet

Malibu this month.

GM had said in May that when it resumed production in 2025

in Kansas it would build both the Bolt EV and XT4 on the same

assembly line, but now will only build Bolt vehicles. GM halted

production of the prior-generation Bolt in December 2023.

GM sales of XT4 vehicles are down 12% to 17,807 this year.

GM said in September it would lay off 1,695 workers at its

Fairfax plant. GM said the first of two rounds will begin on

Nov. 18, affecting 686 full-time workers and terminating 250

temporary employees.

Under the second phase, to begin on Jan. 12, 759 full-time

workers will be laid off, GM said. GM plans to recall the

full-time workers once the plant resumes production of the Bolt

in late 2025.

GM has sold more than 10 million Malibus since 1964

worldwide.

GM has been shifting away from cars in favor of building

more crossover and sport utility vehicles in recent years. The

Malibu is the last remaining Chevrolet car offered in the United

States besides the Corvette. GM ended production of the

Chevrolet Camaro late last year.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BRIEF-Golden Triangle Ventures Announces Letter Of Intent To Acquire Shipping And Logistics Operation
BRIEF-Golden Triangle Ventures Announces Letter Of Intent To Acquire Shipping And Logistics Operation
May 24, 2024
May 24 (Reuters) - Golden Triangle Ventures Inc ( GTVH ) : * GOLDEN TRIANGLE VENTURES ANNOUNCES LETTER OF INTENT TO ACQUIRE SHIPPING AND LOGISTICS OPERATION Source text for Eikon: Further company coverage: ...
Blue Bird Reaches 3-Year Collective Bargaining Agreement With United Steelworkers
Blue Bird Reaches 3-Year Collective Bargaining Agreement With United Steelworkers
May 24, 2024
08:45 AM EDT, 05/24/2024 (MT Newswires) -- Blue Bird ( BLBD ) said Friday that it has reached a three-year collective bargaining agreement with the United Steelworkers union, covering more than 1,500 production workers at Blue Bird's ( BLBD ) facility in Fort Valley, Georgia. We reached an agreement which provides positive outcomes for all parties involved and will continue...
Hudbay Minerals Raises US$402.5 Million in Upsized Bought Deal Equity Offering
Hudbay Minerals Raises US$402.5 Million in Upsized Bought Deal Equity Offering
May 24, 2024
08:49 AM EDT, 05/24/2024 (MT Newswires) -- Hudbay Minerals ( HBM ) said on Friday that it raised US$402.5 million ($551.9 million) through its upsized bought-deal equity offering. The company issued about 42.4 million common shares, including about 5.5 million shares under the exercise of the over-allotment option, at US$9.50 apiece. The underwriters exercised the full over-allotment option. The company...
What's Going On With Medical Cannabis Company Akanda Stock Friday?
What's Going On With Medical Cannabis Company Akanda Stock Friday?
May 24, 2024
Akanda Corp. ( AKAN ) shares are skyrocketing in the premarket session on Friday.  The international medical cannabis company implemented a 1-for-40 reverse stock split on its ordinary shares effective May 23, 2024, according to a recent exchange filing. After the reverse stock split, every 40 shares of the company’s issued and outstanding ordinary shares will automatically be converted into one issued and outstanding ordinary share. The...
Copyright 2023-2026 - www.financetom.com All Rights Reserved