2023-12-16 13:54:21
General Motors will lay off nearly 1,000 people at its Lake Orion, Michigan plant, which makes its anchor product for electric vehicles (EV).
The Chevy Bolt has been part of GM’s lineup since 2016, putting it at the forefront of electric vehicles. It is part of a rotation from an old electrical product to a series of new products.
The Bolt is cheap, costing $28,000. He was also a candidate for the federal government’s Clean Vehicle Tax Credit, which would amount to up to $7,500. But it is the lemon of electric vehicles.
Beyond GM’s introduction of more modern electric vehicles, the Bolt ran into waning demand for electric vehicles from range-conscious Americans and a lack of charging stations.
That trend has threatened EV sales across the industry.
GM has recently introduced electric pickup trucks, which are gasoline-powered versions of some of its brands. These are the Sierra and the Silverado. The latter is among the three best-selling vehicles in the United States.
GM also launched an EV version of its massive Cadillac SUV, the Escalade. It will cost just $130,000 and, with additional features, can sell for up to $170,000. Cadillac has launched a new brand, the Lyriq crossover, which sells for a modest $60,000. GM also has an electric version of the Hummer, which did not sell well in a gasoline version.
All of these vehicles are considered ‘risk’, since they are models that have not really been tested in everyday life, and General Motors has not had a very bad history with electrical problems, and adding to the great Limón, the Chevy Bolt, no The others are expected to do no good compared to the Teslas.
Cadillac, the former luxury division of GM, will launch an electric model, the Celestiq, which will cost more than $300,000 and will try to compete with Rolls Royce. A utopia of some foolish executive, like many of those at GM, who believes that a Cadillac worth more than $300,000 will be able to stand up to a Rolls Royce EV. Not even in dreams gentlemen!! Or you haven’t read the history of the Cadillacs that have wanted to compete against the luxurious Germans. It seems not. Although fools will not be lacking to buy some of these.
GM was notably bullish on electric vehicles. Its investment in electric and autonomous vehicles was set at $35 billion before the end of 2025. Due to slow demand, GM has slowed the pace of production of electric vehicles.
The Bolt was one of the first forays American auto companies made into the electronic car market.
By abandoning GM’s lineup, the big manufacturer has to measure the lofty goal of electric vehicles with the reality of demand.
Source: Wallst24/7
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