General Motors CEO Discusses EV Strategy Amid Election Uncertainty

General Motors (GM) CEO Mary Barra outlined the company's strategy for electric vehicles (EVs) on Tuesday, emphasizing the importance of flexibility in the face of potential regulatory changes as the presidential election approaches. Barra highlighted GM's diverse portfolio, which includes both EVs and traditional internal combustion engine (ICE) vehicles, allowing the automaker to adapt to shifting consumer demands. "Our strategy is to offer our consumers choice," she stated, noting that 54% of EV sales are from customers new to GM. Barra expressed confidence in the growing EV market, citing GM's performance, technology, and range as key factors in attracting consumers. She pointed to the upcoming Chevrolet Equinox EV and the anticipated Bolt model as examples of affordable options that cater to consumer preferences. "We'll be guided by the consumer," she affirmed, indicating that GM will continue to balance its offerings between ICE and EVs regardless of the regulatory landscape. The CEO also emphasized GM's strong position in the industry, attributing the company's investments in EVs to job creation across the United States, particularly in states like Ohio, Michigan, and Tennessee. However, GM has adjusted its projected EV output for the year, reducing the target from 300,000 to 250,000 units, and announced a six-month delay in the opening of its Orion Assembly EV truck plant until mid-2026. Additionally, Barra revealed plans to introduce plug-in hybrid vehicles by 2027. Despite these challenges, GM's stock has performed well, rising 29% this year, outpacing both the S&P 500 and Ford's stock performance.