Another EV setback: General Motors pushes back start date of Indiana battery factory

General Motors is delaying the launch of a planned battery plant in Indiana by a year, signaling another retreat for electric vehicles as automakers wrestle with softer-than-expected consumer demand.

The news was announced Tuesday as the automaker disclosed its joint venture with Samsung SDI to invest $3.5 billion in a battery plant scheduled to start production in 2027. Last year, however, the company said the partnership aimed for mass production in 2026.

General Motors isn’t the only auto producer to cancel or push back start dates to navigate the current EV market. Just last week, Ford canceled plans to launch an electric three-row SUV and a new electric pickup truck, and instead replaced the models with hybrid cars.

“The EV market and GM sales will continue to grow as more customers experience our EVs, the charging infrastructure builds out and we expand into more segments,” GM CEO Mary Barra said in a written statement.

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General Motors has pushed back its plans for a new Buick EV, and has delayed the opening of an EV truck factory.

General Motors has said it plans to assemble at least 200,000 EVs this year. However, it has sold about 38,000 to dealers in the first half of 2024.