"Sales skyrocketed as buyers made sure not to miss out on the last opportunity to buy an electric car at the best discount they'll see in a very long time with the EV tax credit fading. Now, automakers are predicting a crash. Many brands trimmed down production prior to the end of the quarter as a precaution. Apparently, that wasn't enough, because General Motors is taking it a step further and laying off thousands of EV assemblers and battery workers."
"The pause will be temporary, lasting about a month. But when production starts back up, it will be doing so without one of its shifts. Factory Zero previously ran three shifts where workers assembled the big electric trucks: the GMC Hummer EV, Chevy Silverado EV, GMC Sierra EV and Cadillac Escalade IQ. Needless to say, with the loss of the EV tax credit and a major amount of its demand artificially moved forward, GM expects to sell fewer EVs for a while."
"Likewise, GM is also reportedly temporarily laying off workers at several of its Ultium battery plants to matchfor up to six months. The total projected job loss is around 3,300 workers. This news came days after Rivian too announced it would lay off nearly 5% of its workforce. More on GM from Reuters: General Motors said on Wednesday it will cut U.S. electric vehicle and battery production and 1,200 factor"
Last quarter saw massive EV sales in America as buyers rushed to use expiring tax credits. Automakers moved demand forward and trimmed production as a precaution, creating an anticipated slowdown. General Motors will temporarily idle production at Factory Zero for about a month, reduce shifts, and temporarily lay off workers at Ultium battery plants for up to six months, with total projected job losses around 3,300. Factory Zero previously ran three shifts producing the GMC Hummer EV, Chevy Silverado EV, GMC Sierra EV and Cadillac Escalade IQ. Rivian announced layoffs of nearly 5% of its workforce. South Korea reached a tariff deal, and Stellantis added partners for robotaxi efforts.
Read at insideevs.com
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