General Motors and long-time partner Honda have ended plans to build millions of affordable and smaller electric vehicles as the automakers come to terms with high interest rates and battery costs coupled with softening EV demand.
“After extensive studies and analysis, we have come to a mutual decision to discontinue the program,” GM spokesperson Darryll Harrison said in an emailed statement, adding that each company remains committed to affordability in the EV market.
CEO and Chair Mary Barra stuck by plans to produce the next-gen Chevy Bolt EV during the company’s third-quarter earnings call Tuesday.
Our prior portfolio plans included several newly designed vehicles in the entry level segments and a capital commitment of $5 billion over the next several years.”
GM, Cruise and Honda announced October 18 a plan to launch a robotaxi service in Japan under a new joint venture.
The fleet will eventually expand to 500 Cruise Origin vehicles, the companies said, adding that the plan is to scale the service area beyond central Tokyo.
The original article contains 509 words, the summary contains 168 words. Saved 67%. I’m a bot and I’m open source!
This is the best summary I could come up with:
General Motors and long-time partner Honda have ended plans to build millions of affordable and smaller electric vehicles as the automakers come to terms with high interest rates and battery costs coupled with softening EV demand.
“After extensive studies and analysis, we have come to a mutual decision to discontinue the program,” GM spokesperson Darryll Harrison said in an emailed statement, adding that each company remains committed to affordability in the EV market.
CEO and Chair Mary Barra stuck by plans to produce the next-gen Chevy Bolt EV during the company’s third-quarter earnings call Tuesday.
Our prior portfolio plans included several newly designed vehicles in the entry level segments and a capital commitment of $5 billion over the next several years.”
GM, Cruise and Honda announced October 18 a plan to launch a robotaxi service in Japan under a new joint venture.
The fleet will eventually expand to 500 Cruise Origin vehicles, the companies said, adding that the plan is to scale the service area beyond central Tokyo.
The original article contains 509 words, the summary contains 168 words. Saved 67%. I’m a bot and I’m open source!