GM slashes spending on self-driving cars, doubles down on electric cars

General Motors CEO Mary Barra has expressed her displeasure at the company’s electric vehicle (EV) rollout and difficulties with Cruise, the company’s AV subsidiary, at a recent investor conference.

Among difficulties with EV and AV rollouts, investors have reportedly expressed concern about new contracts signed in wake of the company’s agreement with the United Auto Workers union.

To address this, GM announced a US$10 billion (AUD$15.1 billion) share buyback scheme…

Recently, GM scaled back its EV expectations blaming “evolving EV demand” for its decision to delay production at a second plant for its Chevrolet Silverado EV and GMC Sierra EV by 12 months.

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