TECH - GM Delays 1M EV Production Target Beyond 2025: 'Market Isn't Developing…We're Going To Be Guided By The Customer' Says CEO Mary Barra | Benzinga
General Motors Corp. (NYSE:GM) has followed in the footsteps of its crosstown rival Ford Motor Co. (NYSE:F) and delayed its electric-vehicle production goals, comments from CEO Mary Barra in an interview revealed on Monday.
What Happened: “We will not get to a million just because the market is not developing,” Barra said at a CNBC event. The legacy automaker has set a production goal of one million EVs by 2025, and in December CFO Paul Jacobson reiterated the goal at a Barclays conference.
Barra said GM is moving to an all-electric future and she considers it important that the vehicle is really a software platform. She noted that the EV industry is seeing a bit of a slowdown. That said, the top brass reiterated the company’s commitment to EVs. “We'll get there and so we're going to be guided by the customer,” she said.
The GM CEO also made a sales pitch ...