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GM

GM headquarters in Detroit
JODI WESTRICK / MICHIGAN RADIO FILE PHOTO

A battle between General Motors and an activist investor will come to a head this week.

David Einhorn’s Greenlight Capital hedge fund quadrupled its stake in GM in the first quarter of the year.    It now owns more than 3% of the automaker’s stock.  

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GM is abandoning its 2015 plan to invest a billion dollars in India.  The automaker says it will continue to build cars at its Indian factories, but will export them to other countries.  Its brands will not be on the showroom floors of India.

The about-face makes sense to Rebecca Lindland of Kelley Blue Book.  She says the Indian car market is slowing, and Indian consumers rarely buy GM's most profitable vehicles - SUVs and trucks.  Instead, they tend to purchase very small vehicles, and GM makes next to no money selling those.

GM Building in Detroit
ANDREA_44 / FLICKR - HTTP://J.MP/1SPGCL0

After nearly 70 years, General Motors is no longer operating in Venezuela.

Venezuelan authorities unexpectedly seized a GM plant yesterday earlier this week, a trend that has been common over the past few years as the country is in political unrest.

The GM plant stopped making cars in 2015 due to poor economic conditions in the country, but had been making auto parts instead.

Honda and GM team up to develop fuel cells here

Jan 30, 2017
Honda Logo
Wikimedia Commons

Honda and General Motors have joined together to develop hydrogen fuel cell systems. Both Honda and GM believe fuel cells could become a common technology in vehicles in the near future.

Fuel cells use hydrogen to create electricity to power the vehicle.

Both companies have been developing their own fuel cell technology for decades. Now, they're teaming up, to more quickly develop fuel cells systems that are smaller, lighter, and cheaper.    

The two companies invested equal amounts that total to $85 million.

The Chevy Bolt
Mark Brush / Michigan Radio

The Chevy Bolt won the 2017 North American Car of the Year. It’s a long-range electric car.

The EPA estimates the Bolt can travel 238 miles per charge, and GM thinks of it as an electric car that will have mass appeal. After a federal tax credit, the price of the car comes in around $30,000.

Tesla is planning to release a more affordable electric car. They call it the Model 3. But GM beat Tesla to it.

Karl Brauer is executive publisher at Auto Trader.