General Motors (GM.N) announced on Tuesday that it will hold a business update conference call with analysts on November 29, following the ratification of new labor agreements in the United States and Canada. The company’s CEO Mary Barra and CFO Paul Jacobson will be present on the call to discuss the latest developments at GM.
Meanwhile, the United Auto Workers union has reported that its members have approved a new labor deal through April 2028, which is a positive sign for the automaker. However, GM is still facing mounting challenges at its self-driving unit Cruise, which has lost more than $8 billion since 2017, including $728 million lost in the third quarter of this year, according to financial disclosures by the company.
This news comes as Cruise continues to struggle with technical issues and regulatory hurdles in its quest to become a major player in the autonomous vehicle market. Despite these challenges, GM remains committed to investing in Cruise and supporting its growth potential. As such, investors will be closely watching the company’s progress in this area going forward.