'We're not tone deaf'
General Motors plans to reintroduce hybrid models into its U.S. lineup, acknowledging shifting customer demand amid high gas prices and slower-than-expected adoption of all-electric vehicles. While GM's long-term vision remains all-electric, the company is adapting its strategy to include technology diversity and meet current market needs. This move comes after previously going "all-in" on EVs.
Why it matters
This signifies a significant strategic shift for a major automaker, impacting the future of the automotive industry, consumer choices, and the pace of the transition to electric vehicles. It also highlights the challenges and complexities of market adaptation in a rapidly evolving sector.
DETROIT — General Motors plans to introduce hybrid models into its U.S. lineup as sales of the vehicles continue to grow amid inflated gas prices and a pullback in all-electric cars.
Mike Anderson, GM's vice president of propulsion engineering, reconfirmed the automaker's hybrid plans, but declined to discuss timing for such vehicles, which had previously been expected as soon as next year.
"It's fair to say that [hybrids are] part of the plan," Anderson, a 35-year GM veteran, told CNBC during an interview. "We're not tone deaf to our customers. We know what they want and we want to give that to them as quickly as we can."
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