The CEO Mary Barra’s remarks on Monday cast serious doubt on General Motors’ ability to produce one million all-electric cars in North America by the end of 2025.
One of the remaining EV ambitions the carmaker had not dropped or abandoned was the production capacity target for the next year. This was because the demand for EVs has not materialized as swiftly as many firms, including GM, had anticipated.
“The market isn’t growing, so we won’t reach a million, but it will get there,” Barra said on Monday at a virtual CNBC CEO Council session. “The client will serve as our guide.”
GM has said for more than two years that by 2025, it would be able to produce one million electric vehicles annually in both North America and China. The business persisted in claiming it will build the capacity for EVs in North America, even after it modified or abandoned a number of EV objectives and product plans in the previous year.
A GM representative said that the company’s goal concerned production capacity; the issue, however, pertained to actually manufacturing one million electric vehicles by 2025.
Barra did not specifically clarify whether she was speaking about production or production capability.
Subsequently, the representative said that the business will no longer restate its projections for 2025’s EV manufacturing capacity. The business has insisted repeatedly that its EV plans would be adjusted to suit demand.
The manufacturer may provide further information about its electric vehicle (EV) intentions on July 23, when it releases its second-quarter earnings.
