General Motors Company. will again push back plans to open a electric pickup truck plant in suburban Detroit and has been delayed Buick plug in amid uncertain battery-electric car sales.
Mary BarraThe company’s chief executive, told analysts on Tuesday during an earnings conference call that the automaker is postponing until mid-2026 the opening of its Orion assembly plant, which will produce Chevrolet Silverado Electric VehicleThis is the second delay for the plant, which was originally scheduled to begin production in late 2024.
Shares of the automaker fell 4.1% to $47.52 as of 9:39 a.m. in New York. The stock has risen about 32% this year.
Delays are the main reason why general manager will fall short of its previous target of producing 1 million electric vehicles by the end of next year. The company said it would increase production as buyers show more interest in tram.
“We continue to make sure we scale our business to each customer and each location,” GM CFO Paul Jacobson said on a call with reporters.
GM reported on Tuesday that second-quarter profit jumped 60% from a year earlier, beating Wall Street expectations on strong demand for its traditional gas-powered vehicles. truck in the US market.
