General Motors is cutting staff in China as it eyes a restructuring in the world's largest auto market
GM's market share in China declined due to COVID, increased EV focus, and domestic EV competition, leading to job cuts and a potential restructuring. [ more ]
Elon Musk abruptly ends Tesla's partnership with Costco
Tesla CEO Elon Musk cancels partnership with Costco in Taiwan for selling EVs, breaking from using wholesalers and focusing on direct-to-consumer sales model. [ more ]
Ford Waves the White Flag and Looks to Make More Money
Ford is repurposing a Canadian EV plant to produce gas-powered super duty trucks, indicating a potential shift in the automotive industry's focus. [ more ]
General Motors is cutting staff in China as it eyes a restructuring in the world's largest auto market
GM's market share in China declined due to COVID, increased EV focus, and domestic EV competition, leading to job cuts and a potential restructuring. [ more ]
Elon Musk abruptly ends Tesla's partnership with Costco
Tesla CEO Elon Musk cancels partnership with Costco in Taiwan for selling EVs, breaking from using wholesalers and focusing on direct-to-consumer sales model. [ more ]
Ford Waves the White Flag and Looks to Make More Money
Ford is repurposing a Canadian EV plant to produce gas-powered super duty trucks, indicating a potential shift in the automotive industry's focus. [ more ]
Competition in China's auto market will intensify in 2024 with the rise of autonomous driving and increased electrification.
Fitch Ratings expects more market consolidation and aggressive EV-transformation targets, with global carmakers focusing on China-dedicated R&D and smart-EV development. [ more ]