GM Chief Mary Barra Rewrites Roadmap: Plug-In Hybrids To Deliver Green Goals As EV Growth Slows
Portfolio Pulse from Anan Ashraf
General Motors Co (NYSE:GM) CEO Mary Barra announced during the 2023 earnings call the company's plan to incorporate plug-in hybrid technology into select North American vehicles, alongside its commitment to eliminate tailpipe emissions from light-duty vehicles by 2035. Despite focusing on pure electric vehicles (EVs) for 2024, GM acknowledges the slowed pace of EV growth and is prepared to adjust production based on customer demand. The company had previously withdrawn its EV production target of 400,000 units for the period from 2022 to the first half of 2024.
February 02, 2024 | 11:44 am
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General Motors Co plans to introduce plug-in hybrid technology in select vehicles, reaffirming its goal to eliminate tailpipe emissions by 2035, while adapting its production strategy based on the slowed pace of EV growth.
GM's announcement of incorporating plug-in hybrid technology reflects a strategic adaptation to the current market dynamics and regulatory environment. This move, coupled with its commitment to eliminating tailpipe emissions, could positively influence investor perception by showcasing GM's flexibility and commitment to sustainability. However, the acknowledgment of slowed EV growth introduces some uncertainty, which is mitigated by the company's willingness to adjust production based on demand.
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