GM delays Orion EV plant by one year to 'better manage' investment and EV demand

General Motors Co. said Tuesday it has delayed by one year the opening of its electric-vehicle plant in the Detroit area, citing uncertainty about EV demand.

That was needed “to better manage capital investment while aligning with evolving EV demand,” GM said in a statement. “In addition, we have identified engineering improvements that we will implement to increase the profitability of our products.” Autoworkers have been on strike at several GM, Ford and Stellantis NV STLA, +1.21% facilities for a little over a month.

Underscoring how hard it is to make a profitable EV, GM earlier this year discontinued its Chevy Bolt, only to promise shortly after to bring back the mass-market electric sedan built on an updated platform at a later date.

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Orion Mine Finance invests in Dakota GoldOMF Fund IV, an entity managed by mining investor Orion Mine Finance, will invest $17-million in exploration and development company Dakota Gold and has committed future financing support. NYSE American-listed Dakota Gold has a specific focus on revitalising the Homestake district in Lead, South Dakota.
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