Mary Barra Says GM Plans To Scale EV Production With 100K Reservations In Place For Electric Pickups: 'We Will Follow The Customer'
Portfolio Pulse from Anan Ashraf
General Motors Co (NYSE:GM) CEO Mary Barra announced the company has 100,000 reservations for its electric pickups, signaling strong interest. GM plans to produce 200,000 to 300,000 Ultium-based EVs in North America by 2024, depending on demand. The company aims to be variable profit positive in the U.S. EV sector in the second half of the year, attributing this to strong interest and lower commodity prices. Despite concerns over slowing EV growth, GM remains committed to phasing out combustion engine light-duty vehicle sales by 2035, adjusting production based on demand.
February 02, 2024 | 5:11 am
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General Motors Co has 100,000 reservations for electric pickups and plans to produce 200,000 to 300,000 Ultium-based EVs in North America by 2024. The company aims for U.S. EV sector profitability in the second half of the year.
The announcement of 100,000 reservations for GM's electric pickups indicates strong market interest and demand for their EV products. The company's plan to produce a significant number of Ultium-based EVs in North America by 2024, coupled with the aim for profitability in the U.S. EV sector in the second half of the year, suggests a positive outlook for GM's EV initiatives. This news is likely to be viewed positively by investors, potentially leading to a short-term increase in GM's stock price.
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