GM’s CEO said 2023 would be ‘a breakout year’ for EV production. But demand has fallen sharply.

Mary Barra has transformed General Motors in the nearly 10 years she’s been CEO, setting the company up as an early-mover in the electric car market and investing in futuristic solutions like self-driving cars.

After pledging to spend $35 billion on development from 2020 to 2025, this year was meant to be “a breakout year” for EV production she told GM’s investors, The Wall Street Journal reported.

Instead, the company has been hit by production line issues and a tough market of consumers reluctant to embrace the software-heavy EVs..

The company has also wanted to push into the driverless car market, pumping over $8 billion into the San Francisco driverless startup Cruise. But the business has struggled and proved expensive for GM, which has an 80% stake in the startup.

Earlier this month, Cruise’s new boss Mo Elshenawy said that the company “all-time low” after recalling its entire fleet of driverless cars following an accident.

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