GM reported a second quarter net income of $2.8 billion, compared with a loss in the year-earlier quarter of $806 million
, along with the United Auto Workers, on Tuesday reinstated mandatory mask wearing in their U.S. factories, and called on workers to get vaccinated.
GM said its more bullish full-year outlook depended on having no vehicles stuck in inventory because of a lack of semiconductors. As of June 30, GM said it had $1.4 billion worth of incomplete vehicles in inventory. However, the second quarter results illustrated the risks of new technology. The money set aside to pay for recalling Bolts to deal with a risk the batteries could catch fire cost an average $11,600 per car.
Barra said she hopes the Biden administration and Congress will deliver more federal money to build electric vehicle charging stations, tax credits for investments in U.S. electric vehicle plants and expanded tax breaks for customers buying both new and used electric cars - all moves that would benefit GM.
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