Electric vehicles were the transportation of the future, until they weren’t.
General Motors has given up on its plan to put $300 million toward electric vehicle motor production and instead is nearly tripling that by putting $888 million into the latest V-8 engines — which not too long ago BlazeTV host Stu Burguiere believed were a thing of the past.
“The story is that GM is now investing in V-8 engines as it backpedals on EVs,” Burguiere tells journalist and automotive expert Lauren Fix. “Now, I bought a car that was supposed to be the last V-8 in this line from GM, thinking to myself, ‘Oh, well I’m going to have the last one, and it would be great to have that.’”
“She did what I call the big U-turn,” Fix says of GM’s CEO, Mary Barra. “She was in some Wall Street Journal conference the other day saying, ‘Oh, electric cars are the future. I still believe in them 100%.’”
“But on the other side, she put $888 million into a plant here in Buffalo, New York — the Tonawanda Engine facility, which is one of the original engine plants — and a total of $1.4 million into the Flint Engine plant to build V-8s, which they’re having issues with,” Fix explains.
“So, I think they need to figure out their V-8s and maybe reduce their electric vehicle footprint because while they’re continuing four more products coming out — as I’ve been saying … this is a disaster,” she continues.
“I’ve been seeing — and tell me if this is just what I’m seeing on the internet, if this is real — I’m seeing cars with MSRPs of $60,000 being offered at lots, brand new, for $35,000 and $40,000 because they cannot get rid of them,” Stu says.
“That is 100% correct,” Fix says.
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