GM CFO Paul Jacobson Says GM Has Sent "Manufacturing Resources" To Supplier Of Battery Module Tooling; GM Built More Than 1,000 Cadillac Lyriqs In July, Production Rising; Hasn't Been Able To Build Electric Vehicles Fast Enough To Meet Demand
Portfolio Pulse from Benzinga Newsdesk
GM's CFO Paul Jacobson has announced that the company has sent manufacturing resources to its battery module tooling supplier to increase production. GM built over 1,000 Cadillac Lyriqs in July, with production rates rising. However, the company has been unable to meet the high demand for its electric vehicles.
August 09, 2023 | 1:48 pm
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GM is increasing its production capacity for electric vehicles, including the Cadillac Lyriq, to meet high demand. This could potentially lead to increased revenues in the short term.
GM's decision to increase production resources indicates a strong demand for its electric vehicles. If the company can successfully ramp up production to meet this demand, it could see a significant increase in sales and revenues. This is likely to have a positive impact on the company's stock price in the short term.
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