GM announced on Tuesday that it’s delaying manufacturing of the Equinox EV, Silverado EV and GMC Sierra EV. Electrek reported on the feedback from the automaker’s earnings name, citing a want to “defend” GM’s pricing whereas adjusting to shifting EV demand. The corporate didn’t decide to a particular timeline to renew manufacturing, solely saying the delay would final “a couple of months.”
“We’re additionally moderating the acceleration of EV manufacturing in North America to guard our pricing, regulate to slower near-term development in demand, and implement engineering effectivity and different enhancements that can make our autos inexpensive to provide, and extra worthwhile,” GM CEO Mary Barra stated within the firm’s Q3 earnings name Tuesday.
Barra stated the adjustments “will make our autos inexpensive to provide, and extra worthwhile” in the long term. She warned that the EV delays would have an effect on Ultium-based fashions, together with the Equinox EV, Silverado EV RST and GMC Sierra EV.
The transfer comes per week after GM announced it could delay EV truck manufacturing (Silverado EV and GMC Sierra EV) at its Orion meeting plant in Michigan till late 2025. GM spokesperson Kevin Kelley stated the transfer was designed to “higher handle capital funding whereas aligning with evolving EV demand.”
The United Auto Staff strike began in September and is the elephant within the room amid GM’s manufacturing shakeup. Citing unsure labor prices associated to the strike, the automaker additionally withdrew its full-year monetary steering. It expects to offer extra readability for traders as soon as new union contracts are signed. “Accepting unsustainably excessive [labor] prices would put our future and GM staff member jobs in danger, and jeopardizing our future is one thing I cannot do,” Barra stated.
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