Additional Coverage:
- GM CEO Mary Barra says there’s so much EV competition in China that it’s driving a price war that isn’t sustainable (newsbreak.com)
General Motors CEO Mary Barra has expressed concerns about intense competition in China’s electric vehicle (EV) market. She highlighted the excessive number of EV manufacturers in the country, which is leading to a price war that is driving prices “lower and lower.”
Barra emphasized that this level of competition is unsustainable, noting that it will eventually force many companies out of business. The influx of EV-focused startups offering inexpensive vehicles has posed significant challenges for established automakers.
Despite these challenges, GM has outperformed expectations in China, with NEV sales surpassing internal-combustion models for the first time. However, Barra believes that the current situation in the Chinese EV market is not sustainable and that a handful of profitable companies will emerge.