"The EV business in the country was shifting dramatically, and 'lower and lower' prices being driven by such competition will become untenable," Barra noted.
"From a China perspective, EV adoption has been heavily regulatory-driven. There are over a hundred Chinese OEMs right now, primarily focused on EVs," stated Barra.
"You have to look at what the sustainable business is because the situation that is there right now is not sustainable," Barra emphasized.
"Of the hundred or so companies, only less than a handful are profitable," she indicated, highlighting the difficulties in the EV market.
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