US Proposes Hefty Safety Violation Fine On GM Joint Venture Plant: Report


20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


U.S. investigators have reportedly proposed a substantial fine on a joint venture battery plant in Ohio, operated by General Motors Company (NYSE:GM) and LG Energy Solution in light of safety and health infringements.

The Occupational Safety and Health Administration (OSHA) investigators have recommended penalties amounting to $270,000 for the Ultium Cells plant, following an extensive probe into a fire and explosion incident that occurred in March, reported Reuters.

The report noted OSHA investigators identified a total of 19 safety and health violations at the facility and highlighted that the plant management overlooked the importance of adequately educating their workforce about safety protocols and emergency measures, jeopardizing the well-being of their employees. 

Also ReadUAW Strike Ripple Effect - Layoffs Surge At Major Automakers: Report

Price Action: GM shares are trading lower by 2.91% at $30.08 on the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.


20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


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