'GM To Stop Making Chevy Malibu After 60 Years As It Shifts To EVs' - NY Post
Portfolio Pulse from Benzinga Newsdesk
General Motors (GM) announced it will cease production of the Chevrolet Malibu, a model sold for over 60 years, to focus on electric vehicles (EVs). The company plans to invest $390 million in its Kansas assembly plant for the next-generation Chevrolet Bolt EVs, marking a shift from gasoline-powered cars to EVs and crossovers. The Malibu's discontinuation in November follows the end of the Chevrolet Camaro production last year. GM also plans to temporarily halt Cadillac XT4 production in January 2025, with layoffs expected until production of both the Bolt EV and XT4 resumes later that year.
May 08, 2024 | 7:08 pm
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GM is ending production of the Chevrolet Malibu to focus on electric vehicles, investing $390 million in its Kansas plant for the Chevrolet Bolt EVs, and temporarily halting Cadillac XT4 production, indicating a strategic shift towards EVs and crossovers.
GM's decision to stop producing the Chevrolet Malibu and invest in electric vehicle production represents a significant strategic shift towards EVs, which is likely to be viewed positively by investors interested in sustainable and future-oriented business models. The investment in the Kansas plant for the Chevrolet Bolt EVs and the planned resumption of production for both the Bolt EV and Cadillac XT4 indicate a strong commitment to this shift. However, the temporary layoffs due to the Cadillac XT4 production halt might cause short-term concerns.
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