GM to invest $340 million in gas cars as EV demand plummets
The automaker is shifting spending toward gas-powered vehicles as U.S. EV sales fell 27% in the first quarter, Cox Automotive said.
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GM invests $340 million into its gas cars as EV sales dwindle
General Motors is doubling down on gas-guzzling vehicles with a huge investment. Business Insider reported on a $340 million cash infusion to boost the production of component manufacturing for gasoline-powered engines in Romulus, Michigan, and Toledo, Ohio. The Toledo plant will get $40 million, while the Romulus facility will receive the remaining $300 million. "The demand for EVs didn't go as quickly as we thought it was going to be, so we'r…
GM to invest $340 million in gas cars as EV demand plummets
GM told Business Insider it's making another several hundred million-dollar investment in US manufacturing.John F. Martin for General MotorsGM is investing $340 million in two facilities to build its popular gas cars.EV sales "didn't go as quickly as we thought it was going to," an executive told Business Insider.Overall, the company has invested $6 billion in US facilities in the past 12 months.General Motors is making a fresh $340 million inve…
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