What to know in markets on Tuesday, January 31, 2023.
Yahoo Finance autos reporter Pras Subramanian joins Yahoo Finance Live to talk about the price wars among EV makers.
General Motors Chief Executive Mary Barra is betting that moving more slowly than Tesla or Ford to accelerate electric vehicle production for North America will be more profitable in the long run. Suppliers familiar with GM's production plans through 2025 support the notion the automaker continues to slow-walk electric vehicle investment and output while it continues to bank money from its big combustion-engine pickups and SUVs. GM plans to build just 170,000 EVs at its plants in the U.S., Canada and Mexico in 2023, and 285,000 in 2024, according to data gathered by AutoForecast Solutions, which expects the automaker's EV production to remain under 500,000 in 2025 - about half of its actual capacity of 1 million.