At Extreme Investor Network, we pride ourselves on providing the latest and most valuable insights into the world of business news. Today, we wanted to discuss General Motors’ ambitious goal of producing 1 million all-electric vehicles in North America by the end of 2025, which is now in doubt following recent comments by CEO Mary Barra.
During a virtual CNBC CEO Council event, Mary Barra expressed concerns about reaching the 1 million EV production capacity target due to the slower-than-expected development of the market. This news comes as demand for EVs has not materialized as quickly as many companies, including GM, had anticipated.
While GM had previously stated its intention to have production capacity for 1 million EVs in both China and North America by 2025, the company has since modified or withdrawn several EV targets and product plans. It remains unclear whether Barra’s comments refer to actual EV production numbers or production capacity.
A GM spokesman clarified that the focus was on production capacity, but the company will no longer reiterate the specific EV production targets for 2025. Instead, GM will adjust its EV plans to meet market demand, highlighting the company’s commitment to flexibility.
We anticipate more details regarding GM’s EV plans to be revealed when the company reports its second-quarter results on July 23. Stay tuned to Extreme Investor Network for the latest updates on this developing story and more insights into the ever-evolving world of business news.