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'We're not tone deaf'
CNBC • • business
Key Points:
- General Motors plans to introduce hybrid models into its U.S. lineup to meet growing consumer demand amid rising gas prices and declining all-electric vehicle (EV) sales, though exact timing remains undisclosed.
- GM has historically focused on all-electric vehicles but is now incorporating hybrid technology as part of a diverse transition strategy toward a long-term all-electric future.
- Industry data shows hybrid vehicle sales in the U.S. increased 23% in Q2 2024, reaching a record 16.3% of total sales, significantly outpacing EV sales at 5.8%.
- GM's hybrid offerings are expected to include plug-in hybrid electric vehicles (PHEVs) with an estimated rollout around late 2027 to early 2028, featuring models like the Equinox and Silverado.
- GM will adopt a mixed approach using both internal development and external suppliers for hybrid technology, balancing cost, segment needs, and strategic control over product timing.
