GM stops taking reservations for Hummer EV
September 22, 2022 at 21:44
New York CNN Business —There’s a lot of buyer interest in the electric Hummer now being offered by Chevrolet.
But there’s limited capacity to build them, and now General Motors has stopped taking orders for the massive EV.
Between January and June, GM reported it delivered fewer than 400 of the pickup version of the Hummer.
It currently has reservations for about 45,000 of the pickups and about 45,000 of the SUV.
“We’re excited to say this incredible demand has led to Hummer EV reservations being fully booked at this time,” said a statement from the company.
GM has a target to produce only zero-emission vehicles by the year 2035, and other traditional automakers have similar goals.
GM (GM) just announced an agreement to sell 175,000 EVs to Hertz, but it will take it five years to complete the deliveries.
Ford (F) has a “multi-year order bank” for its EV pickup, the F-150 Lightning, as well as its Mustang Mach-E SUV.
Ford stopped taking reservations for the F-150 Lightning when its order backlog reached 200,000 at the end of 2021.
Much of the problem for all EV automakers is a shortage of the large lithium batteries needed to power the vehicles.
Virtually all of the traditional carmakers have announced massive investment to build EV battery plants, typically with a battery maker as a joint venture partner.
The Hummer EVs will not be cheap.