February 22, 2024

GM introduced 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 need to “defend” GM’s pricing whereas adjusting to shifting EV demand. The corporate didn’t decide to a selected timeline to renew manufacturing, solely saying the delay would final “a number of months.”

“We’re additionally moderating the acceleration of EV manufacturing in North America to guard our pricing, modify to slower near-term development in demand, and implement engineering effectivity and different enhancements that can make our automobiles cheaper to supply, and extra worthwhile,” GM CEO Mary Barra mentioned within the firm’s Q3 earnings name Tuesday.

Barra mentioned the modifications “will make our automobiles cheaper to supply, 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 introduced it will delay EV truck manufacturing (Silverado EV and GMC Sierra EV) at its Orion meeting plant in Michigan till late 2025. GM spokesperson Kevin Kelley mentioned the transfer was designed to “higher handle capital funding whereas aligning with evolving EV demand.”

The United Auto Employees strike started 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 steerage. 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 group member jobs in danger, and jeopardizing our future is one thing I can’t do,” Barra mentioned.

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