Chevy, Cadillac have no new EVs planned as GM shifts back to gas

Key Points:

• General Motors (GM) is delaying new or updated electric vehicle (EV) launches, focusing instead on new internal combustion engine (ICE) models for Cadillac and Chevrolet, signaling a shift away from an all-electric future in the near term.
• Cadillac will introduce updated gas-powered models including the CT5 sedan, XT5 SUV, and XT6 three-row SUV starting next spring, alongside its existing electric SUVs, reversing its previous plan to go fully electric by 2030.
• Chevrolet plans to discontinue the Bolt EV by the end of 2026, replacing it with a gas-powered crossover, while continuing to sell the Equinox EV, Blazer EV, and Silverado EV, though major updates to these EVs may not occur until 2028 or later.
• GM has incurred $10.9 billion in EV-related charges since mid-2025, with $7.2 billion impacting cash, but despite these costs, the company raised its full-year adjusted profit forecast to $14 billion to $16 billion.
• Meanwhile, competitors like Hyundai and Toyota are gaining ground in the US EV market, with Hyundai's IONIQ 5 and Toyota's bZ outselling GM’s best-selling electric model, the Chevy Equinox, as Hyundai expands battery production capacity to support future EV growth.