GM To Lay Off 3,300 EV Workers As Subsidies End And Demand Cools

Benzinga

General Motors will lay off over 3,300 union workers at its EV and battery plants in Michigan, Ohio, and Tennessee as it scales back production amid the end of federal subsidies and relaxed emissions rules. CEO Mary Barra said EVs remain GM’s long-term focus despite temporary cutbacks.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02General Motors is laying off thousands of UAW-represented workers and its EV and battery

00:07plants as it scales back electric vehicle production, following the end of federal subsidies,

00:11and loosened emissions rules, according to the Wall Street Journal.

00:14GM will lay off over 3,300 hourly workers in Michigan, Ohio, and Tennessee starting in January,

00:19with 1,700 cuts indefinite and 1,500 expected to return by mid-2026.

00:24GM will idle its joint battery plants with LG Energy Solution in Ohio and Tennessee

00:28starting January 5th, and it definitely lay off 1,200 workers in its Detroit EV assembly plant.

00:34GM CEO Mary Barra reaffirmed that EVs remain the company's North Star,

00:38noting its dozen-model lineup and long-term goal of achieving profitability

00:41despite short-term production cuts.

00:44For all things money, visit Benzinga.com.

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