General Motors (GM.N) declined on Monday to reaffirm its earlier projection of achieving 1 million units of electric vehicle (EV) production capacity in North America by the end of 2025, citing evolving market conditions.
A spokesperson for GM emphasized the company’s commitment to meeting EV demand but refrained from reiterating the previously set production target. “Weāre being flexible. We havenāt announced a new capacity target and we will build to demand,” the spokesperson stated.
GM CEO Mary Barra, speaking at an event on Monday, clarified the company’s approach, noting, “We would not build 1 million EVs next year just because the market’s not developing, but it will get there. And so we’re going to be guided by the customer.”
The decision reflects GM’s adaptive strategy in response to fluctuating market dynamics and evolving consumer preferences towards electric vehicles.
