General Motors said Tuesday it is delaying production of all-electric trucks at a Michigan plant by at least a year to "better manage capital investments" and implement improvements in an effort to make the new EVs more profitable.
The delay is the latest sign of potential trouble for the ambitious, multibillion-dollar plans of traditional automakers to move to electric vehicles. Adoption of EVs, which remain costly to produce and purchase, has been slower than many expected.
"General Motors today confirmed it will retime the conversion of its Orion Assembly plant to EV truck production to late 2025, to better manage capital investment while aligning with evolving EV demand. In addition, we have identified engineering improvements that we will implement to increase the profitability of our products," the company said in a statement.
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