General Motors has shelved its ambitious plan of having a production capacity of one million electric vehicles (EVs) in North America by 2025 as it grapples with the realities of finding buyers for its zero-emission vehicles. However, the legacy automaker expects the market for EVs to continue growing, allowing it to eventually reach its goal.
GM has had a reality check on one of its electrification goals. In an interview with CNBC, CEO Mary Barra confirmed her company would not be hitting its goal of producing one million EVs per year in North America, about a month after lowering its EV sales forecast for 2024.
Barra complained GM is having “a little bit of slowdown.” While she remained optimistic that GM would eventually reach the milestone, she admitted that the market was not developing as her company had projected.
Barra’s comment comes even as GM’s EV sales have performed well recently. However, the American automaker has been dealing with production issues, including software and quality problems affecting its EVs based on the Ultium electric platform. For example, the flagship GMC Hummer EV fails to charge while plugged in to rapid DC chargers and has infotainment screen issues. GM has also struggled to ramp up production at its Michigan battery plant.
The company boss assured their customers that the EV market will grow as the charging infrastructure grows, pulling in more first-time EV buyers.
NEWS: GM CEO Mary Barra says the will not meet its 1 million EV capacity target by 2025 – CNBC
“We’re seeing a little bit of a slowdown right now. We won’t get to 1M because the markets not developing, but we’ll get there.” pic.twitter.com/rYryg4kbd7
— Sawyer Merritt (@SawyerMerritt) July 15, 2024
