- GM claims in 2022 that it could produce 1 million electric vehicles per year by 2025
- The goal is to produce 400,000 electric vehicles in 2022 and 2023—then extend to 2024.
- Stepping back on both goals, CEO Barra now blames the lack of development in the electric vehicle market.
General Motors CEO Mary Barra has backed away from the automaker’s goal of achieving full production capacity. one million EVs by 2025blame slowing demand.
Barra told CNBC (via Bloomberg) said at a July 15 event that GM will not reach its planned production capacity next year, adding that customer demand will determine how quickly GM reaches annual sales of one million electric vehicles and that the company is currently seeing a slowdown in electric vehicle deliveries.
Chevrolet Blazer EV RS 2024
“We won’t hit the million goal just because the market isn’t growing, but we will hit it,” Barra said.
WE Electric vehicle deliveries flat in Q2 compared with the same period in 2023, but still up 11% from the first quarter, according to research firm Cox Automotive. But GM has also had a harder time ramping up EV production than other automakers.
2024 Chevrolet Silverado Electric Vehicle
general manager Announced One Million EV Goal in 2022, but Struggle to accelerate EV production next year, largely due to issues ramping up Ultium batteries. The automaker reported 21,390 electric vehicle deliveries in the second quarter of 2024, up 34% from the first quarter and 40% from the same period last year, showing that the company has turned a corner.
However, this speed means that GM has away from target supply 400,000 electric vehicles in the first half of 2024, which itself has been pushed back from 2023. And the Chevrolet Bolt EV has stopped production. outselling other Chevy electric vehicles in the first half of this year, despite no longer being in production. So GM still has a long way to go with Ultium ramping up, which could explain why the company continues to delay EV targets as demand slows.
