General Motors is reportedly preparing to ramp up its electric vehicle (EV) production in a few months to challenge Tesla as Elon Musk grapples with his own business struggles.
“Demand remained firm,” GM CFO Paul Jacobson told Yahoo Finance Live. Jacobson said GM saw sales strength in both lower-priced vehicle trims such as Chevy and higher-end plays like Cadillac.
A recent report said Musk’s Tesla faced disappointing first-quarter results as the manufacturer’s share price fell 9.75 percent to $162.99.
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