GM CEO Barra Backs Away From One Million EV Production Goal

General Motors Co. Chief Executive Officer Mary Barra walked back expectations for her company’s electric vehicle program, the latest such move by a legacy automaker as momentum slows for plug-in models.

Barra told CNBC at an event Monday that GM won’t have production capacity in place to build one million EVs at the end of next year, which was the previous target. The CEO said customer demand will dictate how fast the company can get to the one million mark for annual sales of EVs, and that currently it’s seeing a slowdown in deliveries of them.