GM

General Motors' profits could fall by US$2 billion (AU$2.6 billion) in 2021, due to an ongoing international shortage of semiconductor chips. The Detroit-based automotive conglomerate made the grim predictions during an offical statement, following the release of its fourth quarter 2020 earnings report.

Microsoft has invested heavily in autonomous driving firm Cruise, initiating a alliance that will "bring together [shared] software and hardware engineering excellence, cloud computing capabilities, and manufacturing know-how." The software giant made its initial contribution as part of a recent US$2 billion (AU$2.6 billion) funding round, which reportedly lifted the start-up’s market value above US$30 billion (AU$39 billion).

For the first time in nearly six decades, General Motors has unveiled an all-new logo. The fresh branding accompanies a new direction for General Motors, which the company says is to "transform itself to deliver on a vision that creates a world with zero crashes, zero emissions and zero congestion".

Marc Ebolo has been announced as the new Managing Director of General Motors Australia and New Zealand. With two decades at the company, Mr Ebolo has experience in sales, strategy, and product planning within the region. The appointment expands on his current position as MD of Holden New Zealand. The new role will see Mr Ebolo leading Holden Aftersales operations in both countries, as well as the recently-announced GM Speciality Vehicles (GMSV).

The majority of Holden dealers have finally signed compensation packages – worth a combined value of close to $150 million – with US car giant General Motors. It follows a protracted legal battle that spilled onto the political field and caught the attention of Australia’s peak consumer and business watchdog. In the end, General Motors did not increase its initial offer by $1. Dealers who are yet to sign say they have not given up the fight with Detroit.