Despite bullish statements, GM is running out of steam with electric vehicle production. The carmaker fell short of its objective to sell 50,000 EVs in the first half of 2023, with only 36,000 units delivered. The Ultium production ramps too slowly, while the Chevy Bolt EV sales have dipped in the second quarter.
Legacy carmakers are known for their stark statements about electric vehicles, although they rarely deliver on these promises. General Motors is the best example, with CEO Mary Barr vowing to replace Tesla as the EV market leader not once but repeatedly. GM announced massive investments into EV and battery production and appeared determined to take the market by storm. GM is selling three EV models, with another five expected to start production in the year's second half.
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