General Motors (GM) cuts staff The Wall Street Journal reports that 1,000 jobs will be announced on Friday as part of a broader effort to cut costs and boost sales of electric vehicles (EVs).

Although GM’s EV sales have increased as of the third quarter of this year, the company is still expected to be in the red on EVs in 2025. According to To WSJ. GM aims to avoid mass layoffs, with about 5,000 executives and employees accepting a voluntary buyout offer in 2023. According to On CNN.

Many automakers, including Ford, are rolling back their EV goals, citing a lack of consumer demand. The company announced in August that it would cancel production plans for a three-row electric SUV, and Mercedes-Benz announced in February that it would scale back its all-electric vehicle lineup by 2030. Encourage the purchase of EVs, such as Ford, which announced in September that it would provide free chargers and housing facilities to buyers. GM announced in January that it would give a $7,500 incentive to EVs that lose their government tax credits. According to to Reuters.

The layoffs follow GM’s September announcement that it would lay off about 1,700 factory workers. In January, the company reported a loss of $1.7 billion in sales and production of its EV line in the fourth quarter of 2023, despite positive growth in net income. (Related: Major automaker puts brakes on production of electric pickup truck driven by Biden)

The Biden-Harris administration is rolling out a variety of EV-related policies as part of President Joe Biden’s climate change policy, including making approximately 67% of all light-duty vehicles sold after 2032 electric or electric vehicles. This includes introducing stricter tailpipe emissions standards in March that will require hybrids. . The president also led a push to build 500,000 public EV chargers across the country by 2030, which has so far been significantly delayed.

Jack Hollis, Toyota Motor Corporation’s North American chief operating officer (COO), criticized U.S. policies to promote EV adoption on November 8, saying it was “impossible” to meet the standards. Ford CEO Jim Farley was found to be driving a Chinese-made EV in October, even though the company received billions of dollars in subsidies for domestic EV manufacturing. acknowledged.

GM did not immediately respond to a request for comment from the Daily Caller News Foundation.

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