GM wants you to know that it’s also unhappy with the slow pace of its EV business
General Motors is dealing with a lot right now: a slowing EV business, delays in battery manufacturing, a safety crisis with its robotaxi unit, Cruise, and financial headwinds from the monthslong autoworker strike. On top of it all, its stock price is still struggling to get back to where it was this summer before the strike started.
With all that in mind, GM CEO Mary Barra hopped on a call with investors early Wednesday to address these compounding challenges and assure them that they have a number of fixes in mind. Costs will be reined in, factories will be delayed, and stock buybacks will recirculate cash to shareholders. It’s a crucial moment for GM, which is locked in a tight race with Ford, Tesla, and others to develop EVs and...