GM’s (GM) electric vehicle push is off to a slow start this year, and is dealing with the slower-than-expected rollout of two high-profile electric vehicles, the GMC Hummer EV and the Cadillac Lyriq, The Wall Street Journal’s Mike Colias reports. According to people familiar with the matter, the company has been making roughly a dozen electric GMC Hummer pickup trucks a day, far below initial targets for this point in the rollout. Meanwhile, through February, GM had sold roughly 1,000 Cadillac Lyriqs since it began building them in March 2022, while Tesla (TSLA) sold about 252,000 Model Ys, a direct competitor to the Lyriq, in the U.S. last year, according to the report. "Demand is very strong for our new EVs, and we appreciate the loyalty of our dealers and customers as we ramp up production," a company spokesman said. Reference Link
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on GM:
- General Motors’ (NYSE:GM) EV Push Slows; Should Investors Worry?
- TSLA, NIO, or GM: Which EV Stock Does Wall Street Expect to Have the Highest Upside?
- GM Seeks to Offer Self-Driving Capabilities
- GM said to partner with Samsung SDI on Michigan battery plant, Reuters reports
- General Motors confirmed to cut about 500 white-collar jobs, Detroit News says