GM Scales Back EV Plans as Buyers Hesitate
The automaker is abandoning a self-imposed target to build 400,000 electric vehicles by mid-2024.
General Motors has abandoned its self-imposed goal to build 400,000 battery-powered vehicles by the middle of 2024. This is the latest indication that automakers worry about the viability market for these cars.
Detroit's automaker has retreated from its original goal, while still reporting a healthy profit for the third quarter despite the ongoing United Auto Workers strike. The walkout that began in mid September now costs GM $200 million a year in profits.