General Motors (NYSE:GM) CEO Mary Barra says that the company’s new headquarters in Detroit would help foster collaboration across teams.
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Bringing People Together
The CEO shared that the new HQ, which is significantly smaller than the automaker’s previous headquarters, the “Renaissance Center.” The previous HQ was also in Detroit and was first built in the 1970s by crosstown rival Ford Motor Co. (NYSE:F).
Barra shared that the move would enable better collaboration across the automaker’s teams by bringing “people closer together,” The Detroit News reported on Monday. The CEO also outlined that the massive scale of the “RenCen” wasn’t ideal for collaboration.
The report also suggests that the move had been planned even before remote work became mainstream following the COVID-19 pandemic. “Particularly, in a post-pandemic world, you need office space that people want to come to,” GM’s VP of Corporate Citizenship, David Massaron, said in a statement to CNBC on Sunday, outlining the company’s expectations with its workers today.
The new HQ, which is GM’s fourth in the Motor City, occupies the first four floors of the Hudson’s Detroit building, covering 200,000 square feet. The move has been touted by GM as a return to its original HQ at Woodward Avenue. “Today, we are returning to Woodward Avenue and launching a bold new era for the company,” GM said in an official statement released on Monday.
Mary Barra Reaffirms EVs
Barra also reaffirmed GM’s commitment to EVs, as the CEO had earlier called the vehicles GM’s “North Star” despite the company laying off over 3,400 workers across multiple EV production facilities.
“Once we have a robust charging infrastructure, I think people are naturally going to pick EVs,” she said, adding that EVs open up new design languages and offer the convenience of “not having to go to the gas station,” according to a report published by CBS Detroit on Tuesday.
GM announced it had taken a $7.1 billion charge related to EVs on top of the earlier reported $1.6 billion charge it took in its EV efforts. GM’s rollback of EVs comes amid policy changes by President Donald Trump.
The automaker announced that the $6 billion EV charge included over $4.2 billion related to supplier commercial settlements and contract cancellation fees, while the other $1.8 billion illustrated “non-cash impairments.”
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Price Action: GM declined 0.02% to $82.85 during Pre-market trading on Tuesday, according to Benzinga Pro data.
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