Auto industry makes a ‘big U-turn’ and cuts the cord on electric vehicles
General Motors has abandoned its EV plan and is instead putting $888 million into the latest V-8 engines.
Electric vehicles were the transportation of the future, until they weren’t.
General Motors has given up on its plan to put $300 million toward electric vehicle motor production and instead is nearly tripling that by putting $888 million into the latest V-8 engines — which not too long ago BlazeTV host Stu Burguierebelieved were a thing of the past.
“The story is that GM is now investing in V-8 engines as it backpedals on EVs,” Burguiere tells journalist and automotive expert Lauren Fix. “Now, I bought a car that was supposed to be the last V-8 in this line from GM, thinking to myself, ‘Oh, well I’m going to have the last one, and it would be great to have that.’”
“She did what I call the big U-turn,” Fix says of GM’s CEO, Mary Barra. “She was in some Wall Street Journal conference the other day saying, ‘Oh, electric cars are the future. I still believe in them 100%.’”
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