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The electric vehicle industry has taken a bit of a hit since the government’s tax credit for new buyers was nixed by Donald Trump. We’ve seen manufacturers respond to this in different ways, and now one of them is cutting back its workforce by a significant margin. General Motors has confirmed that it laid off over 1,700 employees across its Michigan and Ohio locations as a result of a slowing EV market. GM confirmed the recent layoffs in a statement to CNBC. 1,200 of the affected employees worked at the Detroit EV plant, with the other 550 at the Ultium Cells plant in Ohio. There were also 1,550 temporary layoffs between the Ohio plant and a location in Tennessee. The company’s statement makes it clear that these cuts are due to changes in the EV market. In response to slower near-term EV adoption and an evolving regulatory environment, General Motors is realigning EV capacity. Despite these changes, GM remains committed to our U.S. manufacturing footprint, and we believe our investments and dedication to flexible operations will make GM more resilient and capable of leading through change. Earlier this month, GM announced that it would take a $1.6 billion impact on the quarter as a result of EV struggles. For more on General Motors and the rest of the EV business, stick with us here on Shacknews.
