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GM scales back electric vehicle plans as buyers hesitate
GM scales back electric vehicle plans as buyers hesitate
Updated October 24, 2023 at 12:28 p.m. ET
General engines The automaker is abandoning its self-imposed goal of building 400,000 electric vehicles by mid-2024, the latest sign that automakers are worried about the viability of the battery-powered car market.
The Detroit automaker pulled back on its target while reporting a healthy third-quarter profit, despite the blow from the ongoing United Auto Workers strike. The walkout, which began in mid-September, now costs General manager about $200 million in profit per week.
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