GM Officially Announces Plans for Electric Pickup

MT. PLEASANT, Mich -- It's official: GM is planning on building an electric pickup. This new has been highly speculated for several months but was recently confirmed by GM CEO, Mary Barra, on a call with investors, following her report of the corporation's 2019 first-quarter earnings. 

Recently, GM and Plymouth-based electric vehicle start-up Rivian had been in talks with the intention of collaborating on an electric project together, but that appeared to fall apart rather quickly as rival Ford Motor Co. announced it would invest $500 million in the small company to develop all-new, battery-electric vehicles for the Ford portfolio. 

GM has made it clear through numerous talks and press releases that it is in the early stages of a plan to release 20 new electric vehicles by 2023, and since pickups are a key profit-driver for GM as well as their Detroit competitors, it only makes sense that an electric truck would be in the works. To further add to the seriousness of this announcement, GM has been slowly working behind the scenes to restructure its leadership to prepare for this electrification pivot - promoting former electric-vehicle development chief Pamela Fletcher to the senior leadership team in September, in addition to former global product chief Mark Reuss to president of GM earlier this year. 

Mary Barra led into the announcement stating that: 

"GM has an industry-leading truck franchise and industry-leading electrification capabilities. I assure you we will not cede our leadership on either front...we intend to create an all-electric future that will include a complete range of EVs - including full-size pickups." 


She then went on to say that she would share more details when it became "competitively appropriate". All other GM spokespeople have declined to comment. 

How do you feel about the idea of an electric pickup? Is it a hit or a miss for you? Comment and let us know! 

At Hank Graff Mt. Pleasant we strive to provide our customers with a car buying experience that is accommodating, stress-free and fun! Visit us at our Chevrolet dealership located at 4580 E Pickard Rd in Mount Pleasant, Michigan 48858 or our Buick GMC Cadillac dealership located at 116 N. Mission St in Mount Pleasant, MI 48858.

GM Soon to Have Auto-Industry's First Majority Female Board

MT. PLEASANT, Mich -- After two male directors retire, the GM board will lead the way for gender equality in the auto industry by becoming the first automotive corporation to have a majority female board. This first for an automaker places GM among a small handful of companies with roughly the same number of men and women at the highest level. 

This shift comes during a time where women are slowly gaining more power at the largest U.S. companies, lifted by pressure from investors and employees as well as state-mandated quotas. Researcher Equilar says women may now compromise half the members of Russell 3000 company boards by 2034, a forecast that's been shortened by two decades since 2016. 

Unless major changes take place in the composition of other company boards, Barra and incoming Best Buy Co. CEO Corrie Barry will become the only female CEOs in the S&P 500 who serve a board with a majority of women directors. 

Additionally, the board will shrink from 13 to 11 members, with two directors not standing for re-election at the annual meeting on June 4, the company said in its proxy filing. Jim Mulva, former CEO of ConocoPhillips, and Admiral Mike Mullen, former chairman of the U.S. Joint Chiefs of Staff, are both 72, the retirement age for the automaker's board. 

The board will temporarily waive the retirement age requirement for Lead Director Tim Solso, also 72, for one year to assist in GM's "period of transformation" the company said. Six women, including Chief Executive Officer Mary Barra and five men complete the slate of members up for shareholder's approval at the annual meeting. 

At Hank Graff Mt. Pleasant we strive to provide our customers with a car buying experience that is accommodating, stress-free and fun! Visit us at our Chevrolet dealership located at 4580 E Pickard Rd in Mount Pleasant, Michigan 48858 or our Buick GMC Cadillac dealership located at 116 N. Mission St in Mount Pleasant, MI 48858.