General Motors reported higher profits Tuesday behind another round of strong North American auto sales, with executives vowing a flexible approach to electric vehicle (EV) investment while demand growth ebbs.
The major US automaker’s second-quarter results demonstrated a continued lift from robust pricing in its home market, thanks to healthy demand for trucks that has made up for weakness in China.
GM, like fellow Michigan automaker Ford, has slowed down its EV build-out, pushing back another project even as company officials emphasized a long-term commitment to the strategy.
“As we go forward, we’re going to bring additional capacity online in a measured cadence,” said Chief Executive Mary Barra, pointing to third-party studies showing slower EV growth in the coming period compared with the last few years.
Profits came in at $2.9 billion, up 14 percent from the year-ago period while revenues rose seven percent to $48 billion.
GM increased some …