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Stock impact report

GM reportedly suspending next-gen EV truck program at Factory Zero [USA TODAY]

General Motors Company (GM) 
Last general motors company earnings: 2/5 08:05 am Check Earnings Report
US:NYSE Investor Relations: gm.com/investors/index.html
Company Research Source: USA TODAY
The suspension of the program was reported by Crain's Detroit Business , which cited three anonymous sources. GM spokesman Kevin Kelly said in a statement sent to the Detroit Free Press that GM has not disclosed any potential plans or timing for next-generation battery trucks and would not engage in speculation. GM had said it intended to start production of refreshed versions of the GMC Sierra, Chevrolet Silverado, Escalade IQ and Hummer SUV and pickup in 2028. GM consolidated most of its electric vehicle production at Factory Zero last year amid production changes responding to smaller-than-anticipated consumer demand. Factory Zero underwent several rounds of layoffs and production stops as the company said it needed to right-size production. GM looking to put off EV truck production is not some shocking reversal, it's an admission that the company's manufacturing cadence and footprint were ahead of the market, according to Paul Waatti, director of industry analysis at Auto Show less Read more
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