GM Finds $100,000 EVs Aren't Selling Like Hotcakes - Will Focus On More Inexpensive Models

General Motors (GM) CEO Mary Barra said she is disappointed in EV production this year due to constraints. Meanwhile, GM’s leader believes new, affordable EVs like the Equinox and Bolt will help drive adoption.

After announcing a historic $10 billion buyback plan, GM’s stock is soaring on Wednesday. The company also revealed it would boost dividends by 33% and slash spending on Cruise.

The company’s biggest buyback plan comes after signing a new labor contract costing $9.3 billion through 2028.

Read Article