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.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: MiningWeeklyAUS - 🏆 233. / 63 Read more »