Summary of General Motors Company Story 2021

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The General Motors Company is a large, multinational company that produces a variety of products, including cars, trucks, and SUVs. In 2021, the company is expected to experience significant growth due to the increasing popularity of electric vehicles. The company has been through a lot of ups and downs, but it seems to be on the rebound in recent years.

• 00:00:00 General Motors is a manufacturer of automobiles and trucks. In the 1910s, GM acquired several automotive companies, including Pontiac, Oakland, and Marquette. In 1916, GM was re-incorporated as a single company, with five major divisions: Cadillac, Buick, Pontiac, Oldsmobile, and Chevrolet. In 1931, GM became the world's largest automaker. Throughout the 1950s and 1960s, GM faced strong competition from Japanese automakers. In 1984, GM acquired Electronic Data Systems (EDS) and Hughes Aircraft. In 1986, GM acquired Saab Automobile AB. In 1996, GM sold EDS and Hughes Aircraft to Raytheon. In 1997, GM sold its defense units to Raytheon. In the late 1990s and early 2000s, GM faced heavy losses and had to reduce its workforce by tens of thousands. However, in the mid-2000s, GM rebounded and resumed its focus on the automotive business.
• 00:05:00 General Motors Company (GM) was founded in 2000, when the company had equity shares in several auto companies. However, after 2004, GM suspended the oldsmobile brand due to financial troubles. In 2006, GM sold a 51 stake in Mac to Cerberus Capital Management. In December 2008, President George W. Bush announced a bailout to assist the big three automakers, and GM and Ford avoided the collapse of the country's struggling auto industry. In 2010, GM founded General Motors Ventures, a subsidiary that aims to help the company identify and build new technologies in the automotive and transportation divisions. In June 2010, GM came back to the stock exchange with one of the biggest IPOs in US history. However, in 2014, GM was discovered to have been hiding the fact that numerous car models had faulty ignition switches, and the company recorded a net loss of 758 million dollars in July 2020. In September 2020, GM and Honda announced an alliance proposing collaboration in purchase research and vehicle development. In April 2021, GM announced that it would spend two percent of its advertising budget on black media, and four percent in 2022 until it hits eight percent in 2025.
• 00:10:00 The General Motors Company is a large, multinational company that produces a variety of products, including cars, trucks, and SUVs. In 2021, the company is expected to experience significant growth due to the increasing popularity of electric vehicles.