GM Delays EV Chevy Silverado Production by a Year
General Motors announced the production delay of their Chevy Silverado EV due to insufficient demand.
This week, General Motors (GM) officially announced that the production of the Chevy Silverado EV is to be delayed by one year. According to a statement, the automaker is hesitant to begin production due to insufficient demand. Now, instead of beginning production late 2025, GM will start in the latter half of 2025.
GM, though, was careful to say that this delay will not affect their battery plant plans. Rather, it’s to give the company more time to build demand for the EV pickup. The automaker is caught in a web that many find themselves trapped in – where demand is high, but not high enough to warrant high scale production.
Currently, there are more EVs sitting on dealership lots than on driveways. And that’s likely due to the charging infrastructure still lacking in many parts of the country, and potential buyers turning to used rather than new cars, as reported by an ally survey last year. Supply issues are easing, but not fast enough for many automakers.
Looking ahead to the future
The delay means that will be a year that Chevy isn’t competing in the EV pickup game, but the company remains optimistic. GM remains confident that EV demand will continue to rise by 2024, with their plans to build a Sierra EV next year.
Production for the Chevy Volt was announced to end this year, and maintains their goal of building 400,000 EVs by 2024. Projected revenue from that number would earn the company $50 billion by 2025. They’re close to that goal, having made roughly 100,000 this year.
With Ford’s production of the F-150 Lightning temporarily slowed due to a shift being cut in their EV unit, Chevy may have a chance to put their best cards on the table and capitalize on their rival’s $4.5 billion loss.
