GM on Tuesday, June 3, announced a range of strategic initiatives to aggressively respond to growing demand for fuel-efficient vehicles and to economic and market challenges in North America. Rick Wagoner, GM chairman and chief executive officer, made the announcements as part of the GM annual meeting of stockholders in Wilmington, Del.
Major initiatives announced by Wagoner include:
* Cessation of production at four plants that build pickups, SUVs and medium-duty trucks;
* A strategic review of the Hummer brand;
* Funding for production of the Chevy Volt extended-range electric vehicle;
* A new global compact car program for Chevrolet, a next generation for the Chevy Aveo, and a high-efficiency engine module for the U.S. market; and
* Addition of third shifts to Lordstown and Orion, which build Chevy and Pontiac cars.
