General Motors (GM.N) announced on Tuesday that it will hold a business update conference call with analysts on November 29, following the ratification of new labor agreements in the United States and Canada. The United Auto Workers union said on Monday that its members had approved a new labor deal through April 2028.
During the conference call, GM CEO Mary Barra and chief financial officer Paul Jacobson will provide updates on the company’s operations and financial performance. However, the automaker is also facing mounting troubles at its self-driving unit Cruise, which has lost more than $8 billion since 2017, including $728 million lost in the third quarter of this year, according to GM financial disclosures.
Cruise has been struggling to make progress in developing autonomous vehicles, and its losses have raised questions about the viability of the self-driving industry as a whole. Despite these challenges, GM remains committed to investing in Cruise and believes that it has significant potential for growth and innovation.