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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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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