Postponement needed to ‘better manage’ investment, ‘evolving’ EV demand
General Motors Co. said Tuesday it has delayed by one year the opening of its electric-vehicle plant in the Detroit area, citing uncertainty about EV demand.
That was needed “to better manage capital investment while aligning with evolving EV demand,” GM said in a statement. “In addition, we have identified engineering improvements that we will implement to increase the profitability of our products.” Autoworkers have been on strike at several GM, Ford and Stellantis NV STLA, +1.21% facilities for a little over a month.
Underscoring how hard it is to make a profitable EV, GM earlier this year discontinued its Chevy Bolt, only to promise shortly after to bring back the mass-market electric sedan built on an updated platform at a later date.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Orion Mine Finance invests in Dakota GoldOMF Fund IV, an entity managed by mining investor Orion Mine Finance, will invest $17-million in exploration and development company Dakota Gold and has committed future financing support. NYSE American-listed Dakota Gold has a specific focus on revitalising the Homestake district in Lead, South Dakota.
Read more »
American Fiction Trailer: Jeffrey Wright Leads TIFF-Winning ComedyMGM has dropped the American Fiction trailer for Orion Pictures' upcoming comedy film, starring Jeffrey Wright.
Read more »
GM Delays Opening of Electric-Truck Factory in Latest Sign of Cooling EV DemandCompany cites need to manage capital spending and ‘align with evolving EV demand’
Read more »
GM Delays Opening of Electric-Truck Factory Amid Cooling EV DemandAutomaker cites need to manage capital spending and ‘align with evolving EV demand’
Read more »
Doug Pederson Explains What Jaguars Could Have Done Better on Play Trevor Lawrence Was InjuredThere seems to be even split blame between the coaching staff and the player on the play Trevor Lawrence was injured on.
Read more »
Roomba vs. Roborock: Which smart vacuum is better?Roomba and Roborock robot vacuums are both popular options for automated cleaning around the home, but which is the best? Here's how they compare.
Read more »