China’s increasing EV competitiveness is exerting pressure on major automakers, and GM is no exception, says its CEO.
Speaking at the Fortune Most Powerful Women Summit, GM CEO Mary Barra said there have been structural changes in China following the country’s larger adoption of hybrids and electric vehicles. GM has made moves to capitalize on the growing importance of EVs and is looking to stand out even as more than a hundred Chinese companies flood the market with low-cost options, many of which are still not making money, Barra added.
