General Motors (GM) outperformed in Q2, raising profit forecasts despite challenges. The Cruise division pivots from the Origin to the Bolt EV due to regulatory and cost issues.
A $500M US grant for an EV plant contrasts with a lowered 2024 EV target. GM faces a cyberattack, China losses, and investor scrutiny.
Transition to EVs slows, with plug-in hybrids planned for 2027. Gas-powered trucks drive profits while CEO Barra maintains an EV focus. Competitor Ford benefits from hybrid sales as GM navigates uncertainties.
GM's stock fluctuates as concerns linger over meeting EV production goals. Cruise's strategic move involves scrapping the Origin robotaxi for the Chevrolet Bolt and appointing new leadership for safety.
Ford hints at expanding energy options beyond internal combustion engines for future models.
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