No, Tesla Fans, General Motors Is Not Cutting Production of the Chevrolet Bolt
News last week that General Motors (NYSE: GM) has extended an annual summer shutdown at its Orion Assembly Plant brought forth a great deal of comment, much of it misinformed.
The reason is that Orion Assembly builds the Chevrolet Bolt EV, the affordable long-range electric crossover that GM launched late last year.
Some fans of electric-car rival Tesla (NASDAQ: TSLA) could barely conceal their glee at the hint that GM's little electric crossover, which beat Tesla's Model 3 to production by over six months, might not be selling well. Headlines on Tesla fan sites blared that GM was cutting production because Bolts are "piling up," and GM did in fact have a lot of Bolts in inventory as of the end of June.
Source: Fool.com
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