GM's President Just Wants 'A Level Playing Field' Against Chinese EV Companies As Legacy Automaker Launches Tesla Model Y Challenger
Portfolio Pulse from Anan Ashraf
General Motors (GM) is seeking a level playing field against Chinese EV makers, as stated by President Mark Reuss. The company is concerned about China's pricing strategies and the impact on local players. The Biden administration has increased tariffs on Chinese EVs, further restricting their entry into the U.S. market. GM's EV sales dropped 20.5% year-on-year in Q1 2024, largely due to the discontinuation of the Chevrolet Bolt. GM recently launched the Chevrolet Equinox EV, aiming to compete with Tesla's Model Y.

May 16, 2024 | 11:48 am
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General Motors is seeking fair competition against Chinese EV makers and has launched the Chevrolet Equinox EV to compete with Tesla's Model Y. The company's EV sales dropped 20.5% in Q1 2024.
GM's launch of the Chevrolet Equinox EV at a competitive price point is a strategic move to capture market share from Tesla. The increased tariffs on Chinese EVs also provide a more favorable environment for GM. Despite a drop in EV sales, the new model could boost future sales.
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