Welcome to Extreme Investor Network, your go-to source for the latest and most valuable business news updates. Today, we delve into General Motors’ recent announcement regarding their plans for all-electric vehicles.
GM disclosed that they are slowing down their electric vehicle production timeline, including a delay in retooling a second U.S. electric truck plant and the launch of Buick’s first EV. This six-month delay pushes back the completion of the electric truck plant in Michigan to mid-2026, impacting GM’s goal of reaching a production capacity of 1 million EVs in North America by 2025.
During the company’s second-quarter earnings call, GM CEO Mary Barra emphasized the importance of responsible and profitable growth. However, the revised timeline raises questions about GM’s future battery cell plant plans and their commitment to becoming fully electric by 2035.
Despite the delay, GM reported a 40% increase in U.S. EV deliveries during the second quarter, with plans to ramp up assembly and achieve production targets of 200,000 to 250,000 all-electric vehicles in North America this year. GM CFO Paul Jacobson affirmed that the company expects their EVs to be profitable once they reach output of 200,000 units by the fourth quarter.
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