GM Stays Course on EV Transition by 2035 Despite Production Hurdles: Report

General Motors Co GM CEO Mary Barra reportedly reaffirmed the company's ambition to transition exclusively to electric vehicle (EV) sales by 2035.

The commitment comes despite recent delays in EV production and the abandonment of certain joint EV projects.

Barra said, "Our plan is to only be selling EVs, light-duty EVs at that time but of course we're going to be responsive to where the customer is at but we have a plan to do that," reported Reuters.

The automaker had previously announced a delay in electric pickup truck production and the discontinuation of a $5 billion EV project with Honda Motor Co HMC).

With the Biden administration pushing for stringent vehicle emissions regulations, Barra highlighted the importance of aligning these regulations with customer preferences and the availability of charging infrastructure.

The American Automotive Policy Council, which represents GM, Ford Motor Co F), and Stellantis NV STLA, has requested a reduction in the proposed fuel economy increases for trucks from 4% to 2% annually.

Automakers are also apprehensive about the potential financial impact of fuel economy fines and the Energy Department's proposed changes in calculating EV fuel economy ratings, as per the report.

Also Read: All-Electric Future: GM And Komatsu Team Up For Hydrogen-Powered Mining Truck

Price Action: GM shares trading higher by 0.44% at $34.14 in premarket on the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.