General Motors Cuts EV Production Amid Weak Demand

General Motors (NYSE: GM) is scaling back electric vehicle production at its Spring Hill, Tennessee plant, citing slower-than-expected industry growth and tepid consumer demand. The automaker will halt output of Cadillac's Lyriq and Vistiq electric SUVs in December, while delaying a second shift at its Kansas City Bolt production facility.

"We're aligning production with market realities," a GM spokesperson stated, emphasizing the company's ability to pivot between internal combustion and EV manufacturing. Despite the pullback, investors shrugged off the news, with shares edging slightly higher in Thursday trading.

The MOVE reflects broader challenges facing legacy automakers as EV adoption rates fall short of optimistic projections. Industry analysts note cooling demand coincides with reduced government incentives in key markets.