General Motors Sees More EV Output In H2 After Lackluster First Half
Portfolio Pulse from Anan Ashraf
General Motors (NYSE:GM) expects an increase in electric vehicle production in the second half of the year due to improved battery module availability. Despite full order banks, GM sold only 49 Hummer EV pickups and 2,316 Lyriq models in the first half of the year due to supply chain challenges. GM President of North America, Rory Harvey, stated that the company is building momentum on battery capacity and anticipates more EVs being built in the second half of the year.
July 19, 2023 | 11:44 am
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General Motors expects to increase its electric vehicle production in the second half of the year. This is due to improved battery module availability, which had previously led to a decline in production.
The news of increased production due to improved battery module availability is likely to be seen as a positive development by investors. This could lead to increased demand for GM's stock, potentially driving its price up in the short term.
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