GM pushes back Equinox, Silverado, and GMC Sierra EVs, updates on Ultium Bolt in Q3
After releasing Q3 earnings Tuesday, GM says it will delay the Equinox EV, Silverado EV, and GMC Sierra EV production to “protect” pricing and enhance profitability.
GM delays Equinox, EV truck production in Q3
General Motors announced plans to delay Silverado EV and GMC Sierra EV production at its Orion assembly plant in Michigan last week.
The move comes as the automaker aims “to better manage capital investment while aligning with evolving EV demand,” according to GM spokesperson Kevin Kelley.
GM reiterated its intentions Tuesday. Following its Q3 earnings, GM’s CEO Mary Barra explained the company is “moderating the acceleration of EV production in North America to protect our pricing, adjust to slower near-term growth in demand, and implement engineering efficiency and other improvements.”
Barra said the adjustments “will make our vehicles less expensive to produce, and more profitable” in the future.
GM’s leader explained on the company’s earnings call that the EV delays will impact Ultum-based models, including the Equinox EV, Silverado EV RST, and GMC Sierra EV. Although no specifics were mentioned, Barra said it would be “a few months.”
Ultium-based EV production finally picked up in the third quarter. GM produced 32,000 EVs in Q3, up 23% compared to last quarter as supply chain hurdles eased.
In Q4, GM expects 2/3 of EV production to consist of the Cadillac Lyriq, Chevy Blazer EV, Chevy Silverado EV (Work Truck edition), and GMC Hummer EV.
Ultium-based Bolt EV to improve profitability
Barra explained the next-gen Bolt will be “an even better EV” with engineering and manufacturing enhancements.
The Ultium-based Bolt EV will be the first to receive LFP batteries, which will help lower costs, making the vehicle more affordable for buyers.
The company has yet to provide a release date but says the improvements will lead to improved profitability.
By delaying the Equinox, Silverado, and GMC Sierra EVs, GM says it will have the opportunity to implement manufacturing improvements, among other adjustments, “that will make our vehicles less expensive to produce, and more profitable.”
The automaker says the delay comes as GM looks to “protect profitability rather than volume.” By mid-2024, GM expects no constraints and will be able to build to order.
GM also withdrew its full-year metrics following the UAW strike. The company says once new contracts are signed, they will have more clarity around financials due to uncertain labor costs.
Overall, GM’s revenue was up 5.4% YOY to $44 billion on higher-margin pickup and SUV sales. The company was profitable in every region, including China.
However, GM’s net income margin slipped from 7.9% last year to 6.9% in Q3 on rising costs. Net income fell from $3.3 billion last year to $3.1 billion in Q3.
Although GM chose not to disclose EV margins, the company is still aiming to achieve double-digit profit margins on its EVs by 2025. The automaker looks to build 1 million EVs in North America by then.
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China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.
The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.
The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.
China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.
To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.
To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.
The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.
As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.
Read more: California now has nearly 50% more EV chargers than gas nozzles
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Tesla is starting to experience some consequences for misleading Full Self Driving customers – at least that’s the finding of one arbitration ruling that has Tesla refunding one customer $10,000 plus legal fees for failing to deliver on their promises. Find out more on today’s legally challenging episode of Quick Charge!
An arbitration “court” found that Tesla misled customers with its Full Self Driving product, and has now been forced to refund at least one person’s $10,000 payment (plus legal fees) for the not-quite autonomous driving software. France, too, is piling on claims of deceptive business practices – but there’s some good news for FSD fans! If you’re still willing to pay for it, Tesla will thrown in 0% financing on a brand new Cybertruck.
Check out the relevant links, below, to learn more.
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