GM cuts EV forecast by 50,000 and announces a $6 billion share buyback plan

GM now projects the higher end of its 2024 EV production to be 250,000 units, down from a prior forecast of 300,000 units.

General Motors cut its annual EV production forecast and announced a new $6 billion share buyback plan on Tuesday, as the automaker banks on demand from its gasoline-powered models.