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47-482: Bell Bank Park is situated on the site of a former General Motors testing facility. In 2018, Mesa voters voted against a bond request for a state owned sports facility nearby and that paved the way for this facility. Ground was broken on the project in October, 2020. The facility is the vision of Legacy Sports, and was known as Legacy Sports Park before a 10-year naming rights deal was struck with Bell Bank . The facility

94-514: A 15% stake in AeroVironment . In 1989, GM acquired half of Saab Automobile 's car operations for $ 600 million. In August 1990, Robert Stempel became CEO of the company, succeeding Roger Smith . GM cut output significantly and suffered losses that year due to the early 1990s recession . In 1990, GM debuted the General Motors EV1 (Impact) concept, a battery electric vehicle , at

141-521: A British producer of high-performance sports cars . In 1987, in conjunction with AeroVironment , GM built the Sunraycer , which won the inaugural World Solar Challenge and was a showcase of advanced technology. Much of the technology from Sunraycer found its way into the Impact prototype electric vehicle (also built by Aerovironment) and was the predecessor to the General Motors EV1 . In 1988, GM acquired

188-504: A breakthrough in heat treating still in use today as ASTM A255. GM established Detroit Diesel the next year. In 1939, the company founded Motors Insurance Corporation and entered the vehicle insurance market. The same year, GM introduced the Hydramatic , the first affordable and successful automatic transmission , for the 1940 Oldsmobile. During World War II , GM produced vast quantities of armaments, vehicles, and aircraft for

235-547: A budgeted $ 708,000 management fee to Elite Sports Group, overpaying executives and employing multiple family members of people connected with Legacy. The facility spans 320 acres (130 ha) and includes: The facility has commercial partnerships facilitated through Elite Sports. These include: General Motors General Motors Company ( GM ) is an American multinational automotive manufacturing company headquartered in Detroit , Michigan, United States. The company

282-472: A continuation of its diversification plans, GMAC formed GMAC Mortgage and acquired Colonial Mortgage as well as the servicing arm of Norwest Mortgage in 1985. This acquisition included an $ 11 billion mortgage portfolio. The same year, GM acquired the Hughes Aircraft Company for $ 5 billion in cash and stock and merged it into Delco Electronics . The following year, GM acquired 59.7% of Lotus Cars ,

329-900: A controlling interest in North American Aviation and merged it with the General Aviation Manufacturing Corporation . The GM labor force participated in the formation of the United Auto Workers labor union in 1935, and in 1936 the UAW organized the Flint Sit-Down Strike , which initially idled two key plants in Flint, Michigan, and later spread to 6 other plants including those in Janesville, Wisconsin and Fort Wayne, Indiana . In Flint, police attempted to enter

376-517: A namesake defense vehicles division which produces military vehicles for the United States government and military, the vehicle safety, security, and information services provider OnStar , the auto parts company ACDelco , a namesake financial lending service , and majority ownership in the self-driving cars enterprise Cruise LLC . The company originated as a holding company for Buick established on September 16, 1908, by William C. Durant ,

423-529: A program to develop a lightweight two-stroke diesel engine for possible usage in automobiles. Soon after, GM acquired Electro-Motive Company and the Winton Engine Co. , and in 1941, it expanded EMC's realm to locomotive engine manufacturing. In 1932, GM acquired Packard Electric (not to be confused with the Packard car company, which merged with Studebaker years later). The following year, GM acquired

470-422: A strategy by CEO Roger Smith to derive at least 10% of its annual worldwide revenue from non-automotive sources. GM also intended to have EDS handle its bookkeeping, help computerize factories, and integrate GM's computer systems. The transaction made Ross Perot the largest shareholder of GM; however, disagreements with Roger Smith led the company to buy all shares held by Ross Perot for $ 750 million in 1986. In

517-564: Is most known for owning and manufacturing four automobile brands: Chevrolet , Buick , GMC , and Cadillac . By total sales, it has continuously been the largest automaker in the United States, and was the largest in the world for 77 years before losing the top spot to Toyota in 2008. General Motors operates manufacturing plants in eight countries. In addition to its four core brands, GM also holds interests in Chinese brands Baojun and Wuling via SAIC-GM-Wuling Automobile . GM further owns

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564-606: The Fortune 500 and 50th on the Fortune Global 500 . In 2023, the company was ranked 70th in the Forbes Global 2000 . In 2021, GM announced its intent to end production of vehicles using internal combustion engines by 2035, as part of its plan to achieve carbon neutrality by 2040. By 1900, William C. Durant 's Durant-Dort Carriage Company of Flint, Michigan , had become the largest manufacturer of horse-drawn vehicles in

611-528: The 2-mode hybrid system in the Chevrolet Tahoe , GMC Yukon , Cadillac Escalade , and pickup trucks . Fortune 500 The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies , along with privately held companies for which revenues are publicly available. The concept of

658-813: The Allies of World War II . In 1940, GM's William S. Knudsen served as head of U.S. wartime production for President Franklin Roosevelt , and by 1942, all of GM's production was to support the war. GM's Vauxhall Motors manufactured the Churchill tank series for the Allies, instrumental in the North African campaign . However, its Opel division, based in Germany, supplied the Wehrmacht with vehicles. Politically, Sloan, as head of GM at

705-515: The Cadillac V8-6-4 variable-cylinder engines. GM sold Frigidaire in 1979. Although Frigidaire had between $ 450 million and $ 500 million in annual revenues, it was losing money. Robert Lee of GM invented the neodymium magnet , which was fabricated by rapid solidification, in 1984. This magnet is commonly used in products like a computer hard disk. The same year, GM acquired Electronic Data Systems for $ 2.5 billion from Ross Perot as part of

752-544: The Fortune 500 was created by Edgar P. Smith, a Fortune editor, and the first list was published in 1955. The Fortune 500 is more commonly used than its subset Fortune 100 or superset Fortune 1000 . The Fortune 500, created by Edgar P. Smith, was first published in 1955. The original top ten companies were General Motors , Jersey Standard , U.S. Steel , General Electric , Esmark , Chrysler , Armour , Gulf Oil , Mobil , and DuPont . The original Fortune 500

799-505: The General Motors Acceptance Corporation (GMAC), which provides financing to automotive customers, was formed. In 1920, du Pont orchestrated the removal of Durant once again and replaced him with Alfred P. Sloan . At a time when GM was competing heavily with Ford Motor Company , Sloan established annual model changes, making previous years' models "dated" and created a market for used cars . He also implemented

846-664: The LA Auto Show . It was the first car with zero emissions marketed in the US in over three decades. The Impact was produced as the EV1 for the 1996 model year and was available only via lease from certain dealers in California and Arizona. In 1999–2002, GM ceased production of the vehicles and started to not renew the leases, disappointing many people, allegedly because the program would not be profitable and would cannibalize its existing business. All of

893-545: The Rapid Motor Vehicle Company of Pontiac, Michigan , and the Reliance Motor Car Company of Detroit, Michigan (predecessors of GMC ) in 1909. Durant, with the board's approval, also tried acquiring Ford Motor Company , but needed an additional $ 2 million. Durant over- leveraged GM in making acquisitions, and was removed by the board of directors in 1910 at the order of the bankers who backed

940-724: The Yellow Cab Manufacturing Company the same year, and its president, John D. Hertz , joined the board of directors of GM; it acquired the remainder of the company in 1943. In 1926, the company introduced the Pontiac brand and established the General Motors Group Insurance Program to provide life insurance to its employees. The following year, after the success of the 1927 model of the Cadillac LaSalle designed by Harley Earl , Sloan created

987-472: The corporate spin-off of Electronic Data Systems . In 1997, GM sold the military businesses of Hughes Aircraft Company to Raytheon Company for $ 9.5 billion in stock and the assumption of debt. In February 2000, Rick Wagoner was named CEO, succeeding Smith. The next month, GM gave 5.1% of its common stock, worth $ 2.4 billion, to acquire a 20% share of Fiat . In December 2000, GM announced that it would begin phasing out Oldsmobile . The brand

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1034-532: The "Art and Color Section" of GM and named Earl as its first director. Earl was the first design executive to be appointed to leadership at a major American corporation. Earl created a system of automobile design that is still practiced today. At the age of 24, Bill Mitchell was recruited by Earl to the design team at GM, and he was later appointed as Chief Designer of Cadillac. After Earl retired in December 1958, Mitchell took over automotive design for GM. Also in 1926

1081-575: The EV1s were eventually returned to General Motors, and except for around 40 which were donated to museums with their electric powertrains deactivated, all were destroyed. The documentary film Who Killed the Electric Car? covered the EV1 story. In November 1992, John F. Smith Jr. became CEO of the company. In 1993, GM sold Lotus Cars to Bugatti . In 1996, in a return to its automotive basics, GM completed

1128-665: The United States. Durant was averse to automobiles, but fellow Flint businessman James H. Whiting , owner of Flint Wagon Works , sold him the Buick Motor Company in 1904. Durant formed the General Motors Company in 1908 as a holding company , borrowing a naming convention from General Electric . GM's first acquisition was Buick , which Durant already owned, then Olds Motor Works on November 12, 1908. Under Durant, GM went on to acquire Cadillac , Elmore , Welch , Cartercar , Oakland (the predecessor of Pontiac ),

1175-543: The change came 291 new entrants to the famous list including three in the Top 10. As of 2020, the Fortune 500 companies represent approximately two-thirds of the United States' gross domestic product with approximately $ 14.2 trillion in revenue, $ 1.2 trillion in profits, and $ 20.4 trillion in total market value. These revenue figures also account for approximately 18% of the gross world product . The companies collectively employ

1222-448: The company acquired Fisher Body , its supplier of automobile bodies. GM acquired Allison Engine Company and began developing a 1,000 horsepower liquid-cooled aircraft engine in 1929. The same year, GM acquired 80% of Opel , which at that time had a 37.5% market share in Europe, for $ 26 million. It acquired the remaining 20% in 1931. In the late-1920s, Charles Kettering embarked on

1269-477: The company in 1915 after a disagreement with Durant. GM was reincorporated in Detroit in 1916 as General Motors Corporation and became a public company via an initial public offering . By 1917, Chevrolet had become successful enough that Durant, with the backing of Samuel McLaughlin and Pierre S. du Pont , reacquired a controlling interest in GM. The same year, GM acquired Samson Tractor . Chevrolet Motor Company

1316-698: The diesel-hybrid market, the Opel Astra diesel engine hybrid concept vehicle was rolled out in January 2005. Later that year, GM sold its Electro-Motive Diesel locomotive division to private equity firms Berkshire Partners and Greenbriar Equity Group. GM paid $ 2 billion to sever its ties with Fiat in 2005, severing ties with the company due to an increasingly contentious dispute. GM began adding its " Mark of Excellence " emblem on all new vehicles produced and sold in North America in mid-2005. However, after

1363-482: The first hydrogen fuel cell car ever produced. Though fuel cells have existed since the early 1800s, General Motors was the first to use a fuel cell, supplied by Union Carbide , to power the wheels of a vehicle with a budget of "millions of dollars". In the 1960s, GM was an early proponent of V6 engines , but quickly lost interest as the popularity of muscle cars increased. GM demonstrated gas turbine vehicles powered by kerosene , an area of interest throughout

1410-497: The gasoline was harmful to various biological organisms including humans. Evidence shows that corporate executives understood the health implications of tetraethyllead from the beginning. As an engineer for GM, Midgley also developed chlorofluorocarbons , which have now been banned due to their contribution to climate change . Under the encouragement of GM President Alfred P. Sloan Jr., GM acquired Vauxhall Motors for $ 2.5 million in 1925. The company also acquired an interest in

1457-399: The home for their athletic events. From 2022, the stadium is the home of Valley United FC and FC Arizona . Financial troubles began to emerge almost immediately after opening. Bell Bank ended their naming rights partnership on 14 April 2023 and the park was renamed Legacy Park. On 1 May 2023 just 16 months after opening the park filed for bankruptcy. At the time of the bankruptcy filing

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1504-637: The industry, but abandoned the alternative engine configuration due to the 1973 oil crisis . In partnership with Boeing , GM's Delco Defense Electronics Division designed the Lunar Roving Vehicle , which traversed the surface of the Moon, in 1971. The following year, GM produced the first rear wheel anti-lock braking system for two models: the Toronado and Eldorado. In 1973, the Oldsmobile Toronado

1551-591: The largest seller of horse-drawn vehicles at the time. The first half of the 20th century saw the company grow into an automotive behemoth through acquisitions; going into the second half, the company pursued innovation and new offerings to consumers as well as collaborations with NASA to develop the earliest electric vehicles . The current entity was established in 2009 after the General Motors Chapter 11 reorganization . As of 2024 , General Motors ranks 25th by total revenue out of all American companies on

1598-619: The loans to keep GM in business. The action of the bankers was partially influenced by the Panic of 1910–1911 that followed the earlier enforcement of the Sherman Antitrust Act of 1890 . In 1911, Charles F. Kettering of Dayton Engineering Laboratories Company (DELCO) and Henry M. Leland invented and patented the first electric starter in America. In November 1911, Durant co-founded Chevrolet with race car driver Louis Chevrolet , who left

1645-452: The owners of the park Legacy Cares reported $ 366.7 million in liabilities and $ 242.3 million in assets. In July 2023 the U.S. trustee monitoring Legacy Park’s bankruptcy case issued a 23-page filing asking the judge to assign a federal trustee to take over the park’s management and business affairs from owner Legacy Cares. The filing accused Legacy Cares of failing to disclose conflicts of interest, improperly diverting assets, failing to justify

1692-482: The plant to arrest strikers, leading to violence; in other cities, the plants were shuttered peacefully. The strike was resolved on February 11, 1937, when GM recognized the UAW as the exclusive bargaining representative for its workers and gave workers a 5% raise and permission to speak in the lunchroom. Walter E. Jominy and A.L. Boegehold of GM invented the Jominy end-quench test for hardenability of carbon steel in 1937,

1739-528: The pricing strategy used by car companies today. The pricing strategy had Chevrolet , Pontiac , Oldsmobile , Buick , and Cadillac priced from least expensive to most, respectively. In 1921, Thomas Midgley Jr. , an engineer for GM, discovered tetraethyllead (leaded gasoline) as an antiknock agent, and GM patented the compound because ethanol could not be patented. This led to the development of higher compression engines resulting in more power and efficiency. The public later realized that lead contained in

1786-487: The reorganization in 2009, the company no longer added the logo, saying that emphasis on its four core divisions would downplay the GM logo. In 2005, Edward T. Welburn was promoted to the newly created position of vice president, GM Global Design, making him the first African American to lead a global automotive design organization and the highest-ranking African American in the US motor industry at that time. On July 1, 2016, he retired from General Motors after 44 years. He

1833-499: The time, was an ardent opponent of the New Deal , which bolstered labor unions and public transport . Sloan admired and supported Adolf Hitler . Nazi armaments chief Albert Speer allegedly said in 1977 that Hitler "would never have considered invading Poland" without synthetic fuel technology provided by General Motors. GM was compensated $ 32 million by the U.S. government because its German factories were bombed by U.S. forces during

1880-510: The war. Effective January 28, 1953, Charles Erwin Wilson , then GM president, was named by Dwight D. Eisenhower as United States Secretary of Defense . In December 1953, GM acquired Euclid Trucks , a manufacturer of heavy equipment for earthmoving , including dump trucks , loaders and wheel tractor-scrapers , which later spawned the Terex brand. Alfred P. Sloan retired as chairman and

1927-478: Was consolidated into GM on May 2, 1918, and the same year GM acquired United Motors , a parts supplier founded by Durant and headed by Alfred P. Sloan for $ 45 million, and the McLaughlin Motor Car Company , founded by R. S. McLaughlin , became General Motors of Canada Limited. In 1919, GM acquired Guardian Frigerator Company , part-owned by Durant, which was renamed Frigidaire . Also in 1919,

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1974-596: Was estimated to have cost $ 280million. Prior to completion, events were booked including the Jam On It amateur basketball tournaments, who committed to hosting events at the facility until 2032. Bell Bank Park opened with a pickleball event hosted by the Association of Pickleball Players Tour on 4 January 2022. In February 2022, it was announced that the Gilbert, Arizona, campus of Park University would make Bell Bank Park

2021-560: Was eventually discontinued in 2004, seven years after it had become the first American car brand to turn 100. In May 2004, GM delivered the first full-sized pickup truck hybrid vehicles , the 1/2-ton Chevrolet Silverado / GMC Sierra trucks. These mild hybrids did not use electrical energy for propulsion, like GM's later designs. Later, the company debuted another hybrid technology, co-developed with DaimlerChrysler and BMW , in diesel-electric hybrid powertrain manufactured by Allison Transmission for transit buses. Continuing to target

2068-478: Was limited to companies whose revenues were derived from manufacturing, mining, and energy exploration. At the same time, Fortune published companion " Fortune 50" lists of the 50 largest commercial banks (ranked by assets), utilities (ranked by assets), life insurance companies (ranked by assets), retailers (ranked by gross revenues) and transportation companies (ranked by revenues). Fortune magazine changed its methodology in 1994 to include service companies. With

2115-557: Was replaced by Michael Simcoe . In 2006, GM introduced a bright yellow fuel cap on its vehicles to remind drivers that cars can operate using E85 ethanol fuel . They also introduced another hybrid vehicle that year, the Saturn Vue Green Line . In 2008, General Motors committed to engineering half of its manufacturing plants to be landfill-free by recycling or reusing waste in the manufacturing process. Continuing their environmental-conscious development, GM started to offer

2162-585: Was succeeded by Albert Bradley in April 1956. In 1962, GM introduced the first ever turbocharged production car in the world in the Oldsmobile Cutlass Turbo-Jetfire. Two years later, the company introduced its " Mark of Excellence " logo and trademark at the 1964 New York World's Fair . The company used the mark as their main corporate identifier until 2021. GM released the Electrovan in 1966,

2209-547: Was the first retail car sold with a passenger airbag . Thomas Murphy became CEO of the company, succeeding Richard C. Gerstenberg in November 1974. GM installed its first catalytic converters in its 1975 models. From 1978 to 1985, GM pushed the benefits of diesel engines and cylinder deactivation technologies. However, it had disastrous results due to poor durability in the Oldsmobile diesels and drivability issues in

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