The Detroit-based automaker’s second-quarter net income fell just over 40 per cent from a year ago amid supply-chain disruptions in June and the ongoing chip shortage. (The Logic)

Talking point: CEO Mary Barra said in a letter to shareholders that she expects production and deliveries to rise “sharply” in the second half of the year, but the company is cutting spending and limiting hiring based on models of “many downturn scenarios.” There is still optimism that auto production will bounce back this year as some automakers, like Volvo, get access to chips. There may be other economic and supply-chain pressures ahead for automakers, though, when it comes to electric-vehicle batteries. Ford announced a new plan last week to diversify its EV supply chain across multiple regions and battery types. Barra noted in her letter that GM is focusing on “binding” agreements through 2025 for raw battery materials to “secure our future EV production.”