Major Automakers Slow EV Production
Summary from the AllSides News Team
General Motors (GM), Tesla, and Ford are among the major automakers slowing down production of electric vehicles.
Key Details: GM is delaying production on both the Sierra EV and the Silverado until late 2025 in order to align their investment with evolving EV demand. Ford and Tesla have slowed down production of electric vehicles due to concerns about waning demand and other economic uncertainties. EV sales grew 51% in the first nine months of 2023, well below the 71% sales surge for vehicles during the same time period in 2022.
Key Quote: "We're looking at EV demand and the trendline for EVs is stabilizing," GM spokesman Kevin Kelly said. "It is not rising as fast as originally forecasted."
For Context: Production on the Sierra EV and the Silverado had been set to begin in late 2024 at a suburban Detroit plant in Orion, Michigan. Workers there will be transferred temporarily to other GM facilities in the state.
How the Media Covered it: Some sources on the left and right suggested that GM's decision had nothing to do with the ongoing strike by the United Auto Workers.
Featured Coverage of this Story
From the Right
General Motors delays opening electric-truck factory as EV demand wanes
General Motors has pushed back plans to convert one of its Michigan assembly plants into an electric-pickup truck factory amid a slowdown in demand for electric vehicles.
The move is the latest sign that electric vehicle production and demand may not be as strong as forecast.
GM had been set to begin production of the electric Chevrolet Silverado and GMC Sierra in late 2024 at the suburban Detroit plant.
The company said the plan now is to start it in late 2025.
The delay is happening “to better manage capital investment while...
From the Center
Tesla joins GM, Ford in slowing EV factory ramp as demand fears spread
Tesla (TSLA.O) on Wednesday joined General Motors (GM.N) and Ford (F.N) in being cautious about expanding electric vehicle (EV) production capacity, citing economic uncertainties and underscoring fears of a slowdown in demand.
Tesla CEO Elon Musk said he was worried that higher borrowing costs would prevent potential customers from affording its vehicles despite substantial price cuts, and that he would wait for clarity on the economy before ramping up its planned factory in Mexico.
"People hesitate to buy a new car if there's uncertainty in the economy," Musk said on a post-earnings call where he also talked about...
From the Left
GM postpones expanding production of electric trucks
General Motors is putting off adding a second factory for production of its electric pickups until late 2025, the automaker announced Tuesday.
The Silverado EV is now being produced at GM’s Factory Zero Detroit-Hamtramck Assembly, where it is built alongside the GMC Hummer EV. The GMC Sierra EV is also set to be built there beginning next year.
But GM had planned to start producing the electric pickups at an additional Michigan factory, Orion Assembly just north of Detroit, as well. That ‘s where the Chevrolet Bolt EV and Bolt...
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