GM delays EV plans, pushing back electric truck plant retooling, sparking concerns about EV production capacity

From CNBC: 2024-07-23 10:19:13

General Motors delays plans for electric vehicles, pushing back the retooling of an electric truck plant in Michigan by six months until mid-2026. This delay means GM will not achieve its target of 1 million EVs in North America by 2025, sparking concerns about the company’s EV production capacity. Buick’s first EV also faces delays, calling into question GM’s plans for future battery cell plants. CFO Paul Jacobson remains optimistic about GM’s EV profitability once production reaches 200,000 units by the fourth quarter, despite lower earnings compared to traditional gas models.



Read more at CNBC: GM slows its EV plans again even as sales grow