GM slows EV production as tax credit nears expiration
General Motors (GM) is scaling back production of its electric vehicles (EVs), including the Cadillac Lyriq and Vistiq, as well as the Chevy Bolt EV, as it expects a slowdown in EV sales due to the expiration of the $7,500 consumer tax credit at the end of the month. The company is pausing production at its Spring Hill, Tennessee plant in December and temporarily laying off a shift of workers at a plant near Kansas City. While EV sales have improved over time, GM is unsure about the future and is cautious about overproducing. The decision by the largest American automaker to aggressively cut EV production, even as sales surge, raises concerns about the US falling behind other developed nations in clean energy investments.
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