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Voice of America report, showing operations inside the plant and an interview with a representative from GM Russia.. The joint venture was created with investment from General Motors ($99.1m, 41.61%), AvtoVAZ ($99.1m, 41.61%) and the European Bank for Reconstruction and Development ($40m, 16,78%, plus a loan facility for $100 million).
GM unveiled the production version of the Chevy Volt in September. The vehicle will be able to travel up to 40 miles in all-electric mode. General Motors Corporation (GM) is involved in a well-publicized effort to launch its plug-in hybrid model, the Chevy Volt, in 2010, and the company also intends to employ the Volt drivetrain in other vehicles.
The 2007 General Motors strike was a strike from September 24 to 26, 2007, by the UAW against General Motors. On September 24, 2007, General Motors workers represented by the UAW union went on strike against the company. The first US-wide strike against GM since 1970 was expected to idle 59 plants and facilities for an indefinite period of time.
The company became completely debt-free. The financial success allowed the company to reach an agreement on August 26, 1961, with the United Auto Workers for a profit sharing plan that was new in the automobile industry. Its new three-year labor contract included generous annual improvement pay increases, and automatic cost-of-living raises. [32]
Chevrolet (/ ˌ ʃ ɛ v r ə ˈ l eɪ / SHEV-rə-LAY), colloquially referred to as Chevy, is an American automobile division of the manufacturer General Motors (GM).. Louis Chevrolet (1878–1941), Arthur Chevrolet (1884–1946) and ousted General Motors founder William C. Durant (1861–1947) started the company on November 3, 1911 [2] as the Chevrolet Motor Car Company.
In February 2006, GM slashed its annual dividend from $2.00 to $1.00 per share. The reduction saved $565 million a year. In March 2006, GM divested 92.36 million shares (reducing its stake from 20% to 3%) of Japanese manufacturer Suzuki, in order to raise $2.3 billion. GM originally invested in Suzuki in the early 1980s.