Automaker General Motors GM reportedly anticipates an uptick in electric vehicle production in the second half of the year, driven by improved battery module availability.
During the first half, GM experienced a decline in EV production, including the GMC Hummer EV and Cadillac Lyriq, due to supply chain challenges.
Despite having full order banks, GM sold only 49 Hummer EV pickups and 2,316 Lyriq models.
As reported by Detroit Free Press, GM President of North America Rory Harvey addressed the media on Monday and said that GM is coming up to speed on battery capacity and building momentum. “I anticipate a lot more EVs being built in the second half of this year than the first half of this year," he said.
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Harvey explained that the initial low volume of Hummer EV and Lyriq production was deliberate, aiming to prioritize quality and gradually ramp up output. According to Harvey, GM is poised for a surge in EV manufacturing in the coming months.
GM also has a robust lineup of vehicles set to launch in the second half:
- The all-new Buick Envista
- Redesigned Buick Envision
- Redesigned Chevrolet Trailblazer
- Redesigned Cadillac XT4
- Chevrolet Silverado EV Work Truck
- BrightDrop Zevo 400
- Chevrolet Silverado EV RST First Edition
- Chevrolet Blazer EV
- Chevrolet Equinox EV
- Chevrolet Corvette E-Ray
- Cadillac Escalade IQ EV
- Cadillac Celestiq EV.
Harvey acknowledged the high demand for GM’s products, stating, “At this particular point in time, we could just about sell every product that we can build.”
Price Action: GM shares closed nearly 1% higher in the previous session at $39.13, but were down 0.1% before the opening bell on Wednesday, according to data from Benzinga Pro.
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