“And when Orion Assembly comes back online in early 2027, it will produce the Cadillac Escalade and then add our next generation of full-size light-duty pickup trucks.”

In context

“r ongoing work to reset our capacity will cause us to recognize a charge in the fourth quarter. By acting swiftly and decisively to address overcapacity, we expect to reduce EV losses in 2026 and beyond, making us much better positioned as demand stabilizes. EVs remain our North Star, so we will continue to invest in new battery chemistries like LMR, new form factors and other architectural improvements to drive improved profitability. I'm equally confident in our ICE strategy. It is clear that ICE volumes will remain higher for longer. We lead the industry today, and we are increasingly well positioned to meet strong sustained demand. For example, we are onshoring production of the Chevrolet Blazer, developing a next-generation Cadillac CT5 and redesigning and extending the Cadillac XT5. And when Orion Assembly comes back online in early 2027, it will produce the Cadillac Escalade and then add our next generation of full-size light-duty pickup trucks. Looking ahead, our top priority as a leadership team remains returning North America to our historical 8% to 10% EBIT margins. To do this, we will continue to drive EV profitability improvements, maintain our overall production, pricing and incentive discipline, manage our fixed costs and further reduce our tariff exposure, net of our self-help initiatives. In addition, cross-functional teams are attacking our warranty expense by addressing the root cause inside GM at our suppliers and at our dealerships. We are also executing plans to grow software and services like OnStar and Super Cruise to generate even greater revenue during and after each vehicle sale. So far this year, we have recognized nearly $2 billion in revenue from OnStar, Super Cruise and other software services, and our def”