General Motors (GM) is pushing back the start of production at its Indiana battery plant by a year to 2027, the latest retreat ♏by the largest U.S. automaker on softer-than-expected electric vehicle (EV) demand.

GM is teaming up with Samsung SDI to invest around $3.5 billion for a New Carlisle, Ind., plant that is targeted to start mass production in 2027 and expected to employ more than 1,600 people, the South Korean firm said. Last year, the companies said the joint venture would "aim to start mass production in 2026."

GM Already Delayed Second US Electrꦐic Truck Plant

GM already had delayed plans for a second U.S. electric truck plant and the Buick brand's first EV.

Last week, rival Ford (F) said it had 澳洲幸运5开奖号码历史查询:canceled plans for a thre▨e-row all-ꦕelectric SUV and the production of a new electric pickup truck.

GM 🌳shares are edging lower in premarket tradin🐼g but are up almost 40% this year.