GM Falls Short of 1 Million EV Target by 2025 Due to Stagnant Market Growth

Money | July 16, 2024, 3:24 a.m.

In 2021, General Motors made headlines by announcing plans to go zero-emissions by 2035. However, during a recent CNBC interview, CEO Mary Barra revealed that GM will not meet its goal of producing one million EVs annually in North America by the end of 2025. Sales of GM's electric vehicles have been strong, but the company has faced challenges with software, manufacturing, and quality issues. Despite these setbacks, Barra remains optimistic about GM's electric future, emphasizing the importance of getting the software right. The company's recent updates and price cuts have helped boost sales, and new models like the Equinox EV have received positive reviews. Barra believes that as charging infrastructure improves and more buyers embrace EVs, the market will continue to grow. While GM's path to one million EVs may be uncertain, the company is committed to its electrified future.