GM - Amid Strong Q2 GM Reduces Battery-Electric Capacity Forecast Raising Concerns For Investors
2024-07-23 18:03:02 ET
Summary
- Strong second quarter includes concerns and costs in China and at Cruise.
- GM's forecast for BEV production capacity of 1 million vehicles in North America by the end of next year is no longer operative.
- GM scaling back and slowing down BEV projects, offering the PHEV option instead.
- Uncertainty around GM's strategic pivot and potential costs, while maintaining a strong portfolio of gasoline-powered models.
Last week, when CEO Mary Barra mentioned publicly that General Motors' ( GM ) forecast for battery electric vehicle (BEV) production capacity of 1 million vehicles in North America by the end of next year was no longer operative, the market seemed to welcome the news: GM shares closed higher, and the next day as well....
Amid Strong Q2, GM Reduces Battery-Electric Capacity Forecast, Raising Concerns For Investors