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Wednesday, April 21, 2021

General Motors’ (NYSE:GM) Barra Says Meeting with President Trump was “productive and valuable”


General Motors (NYSE:GM) Chairman/CEO Mary Barra said her face-to-face session with President Trump Thursday was “productive and valuable, declining specifics.

The head of the largest US automaker met with President Trump after he stepped up attacks on the Detroit automaker. He has been hammering GM for much of the last year after the company announced in November it would end production at 4 plants and eliminate thousands of jobs.

CEO Barra declined upon leaving the White House to say if she discussed the fate of the shuttered Lordstown, Ohio plant with President Trump. GM has been in talks to sell the plant to EV startup Workhorse Group Inc and an affiliated, newly formed entity.

People briefed on the matter said President Trump and CEO Barra were expected to discuss ongoing contract talks with the United Auto Workers (UAW) union, the fate of the closing plants, trade issues with China and North America and The Trump Administration’s plan to rewrite fuel economy standards through Y 2026.

HeffX-LTN’s overall technical outlook for General Motors is Neutral in here.

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