GM slows its EV plans again even as sales grow
Publishing timestamp: 2024-07-23 13:43:42
Summary
GM is slowing its plans for all-electric vehicles by delaying the second U.S. electric truck plant and Buick brand's first EV. This delay means GM will not achieve its target of having North American production capacity of 1 million EVs by 2025. The company did not provide updated timing on Buick's first EV, which was expected in 2024. GM's U.S. EV deliveries increased during the second quarter, but EVs still only made up 3.2% of its total U.S. sales. GM is aiming to ramp up assembly to produce between 200,000 and 250,000 all-electric vehicles in North America this year.
Sentiment: MIXED
Tickers: GM,
Keywords: business news, general motors co, united states, autos, breaking news: business, business, transportation, mary barra, detroit, environment,
Source: https://www.cnbc.com/2024/07/23/gm-slows-its-ev-plans-again-even-as-sales-grow.html