General Motors is scaling back its previous electric vehicle buildout target, the latest sign that more automakers are concerned with the slowed growth of EVs.
The letter also reported a healthy third-quarter profit of $3.1 billion in net income, even as the strike from the United Auto Workers union hit profits. The walkout, which started in September, now costs GM $200 million a week in profit. “It’s an offer that rewards our team members but does not put our company and their jobs at risk,” Barra said in the letter. “Accepting unsustainably high costs would put our future and GM team member jobs at risk, and jeopardizing our future is something I will not do.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: