GM CFO Says Have To Be Careful About Trying To Be Too Big, Too Fast With Electric Vehicles; Opportunity In China With New Cadillac Lyriq; Ultium Battery Plant In Ohio Going Well, As Is Construction At Spring Hill Battery Plant
Portfolio Pulse from Benzinga Newsdesk
GM's CFO stated at the Deutsche Bank Conference that the company needs to be cautious about expanding too quickly in the electric vehicle market. He highlighted the opportunity in China with the new Cadillac Lyriq and mentioned that the Ultium battery plant in Ohio and the Spring Hill battery plant construction are progressing well.
June 15, 2023 | 4:19 pm
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GM's CFO advises a cautious approach to EV market expansion, highlighting the opportunity in China with the Cadillac Lyriq and progress in battery plant constructions.
The CFO's statement indicates a cautious approach to the EV market, which may not have a direct short-term impact on GM's stock price. However, the progress in battery plant constructions and the opportunity in China with the Cadillac Lyriq show that GM is actively working on its EV strategy, which could have a positive long-term effect.
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