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China, saic motor
General Motors Takes $5 Billion Hit From Ailing China Business
The charge marks the latest example of how global automakers are struggling in China as local consumers embrace electric vehicles from homegrown brands.
GM takes $5 billion hit from struggling business in China
General Motors told shareholders on Wednesday that it would record more than $5 billion in two non-cash charges in the fourth quarter due to ailing business in China, causing the automaker to make fewer models and close down manufacturing plants.
General Motors is taking a $5 billion-plus hit on its operations in China
GM said it would write down the value of its joint venture with China's SAIC Motors by as much as $2.9 billion and incur restructuring charges.
2h
on MSN
China's BYD poised to silently dominate Indian EV market as local carmakers adopt its latest blade batteries
India's largest automobile manufacturer Maruti Suzuki last month revealed its first electric SUV, e Vitara, in Italy where ...
6d
on MSN
China’s EV price war is so brutal that BYD is trying to pinch its suppliers
China’s top maker of electric vehicles (EV) wants to pay a lot less for car parts in the new year, a demand that signals ...
Electrek
10h
GM sees $5 billion impact from restructuring in China
GM’s CEO Mary Barra told Fortune in October that China’s EV price war “has become a race to the bottom with pricing and the ...
14h
G.M.’s Ailing China Business Will Deal It a $5 Billion Blow
General Motors and other foreign automakers are selling fewer cars and losing lots of money in China, where domestic electric ...
1d
on MSN
BYD raced past its annual delivery target ahead of schedule, throwing down the gauntlet for Tesla
BYD has now sold over 3.7 million cars this year, meaning it has smashed its annual target of 3.6 million sales with a month ...
Electrek
2d
BYD just shattered its 2024 delivery goal after another record-breaking sales month
China’s leading EV maker has already sold more vehicles this year than expected. After another record-breaking sales month in ...
12h
Tesla's November China EV Sales Drop 4.3% as BYD Hits New High
Tesla Inc. ( TSLA, Financial) announced a 4.3% year-over -year decline in November China-made EV sales to 78,856 units, as ...
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20h
China's new energy passenger car wholesale surges to 1.46m in Nov
BEIJING -- China's new energy passenger vehicle market continued to see robust growth in November, with wholesale figures ...
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