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☆ U.S. automakers like GM are rapidly losing ground in China, once an engine for growth
  + stars: | 2024-05-06 | by ( Michael Wayland | ) www.cnbc.com   time to read: +13 min
China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.
Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America
☆ Tesla shares drop nearly 6% after Musk cuts about 500 jobs in Supercharger team
  + stars: | 2024-04-30 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com   time to read: +5 min
Tesla shares fell nearly 6% on Tuesday following news that CEO Elon Musk was pressing ahead with more job cuts at Tesla , impacting an estimated 500 employees in its Supercharger team. In the email, Musk also expressed consternation that Tesla management hadn't thinned out the company's staff more promptly at his direction. Other laid-off Tesla employees posted publicly about Tesla shrinking the Supercharger team. In cutting that group, Tesla revealed it's throttling the expansion of its Supercharger network in the U.S. The move comes after Tesla struck partnerships with Ford , GM and other industry players ensuring they would manufacture cars using the Tesla NACS (North American Charging Standard) for compatibility with Tesla charging stations, and allowing those companies' customers to use Tesla stations.
Persons: Tesla, Elon Musk, Musk, Rebecca Tinucci, Daniel Ho, Andres Pinter, Pinter, Junheng Li Organizations: EV, CNBC, U.S, Ford, GM, Tesla, U.S . Transportation, Clean Transportation, Baidu, Warren Capital Locations: Tesla, California, United States, U.S, China
☆ Nike can easily pass on rising costs to consumers, research firm says
  + stars: | 2023-03-22 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNike can easily pass on rising costs to consumers, research firm saysJunheng Li of JL Warren Capital says the company has done that in a "very … marginal manner."
☆ Xi has made it 'crystal clear' that China will stick to its zero-Covid policy: Research firm
  + stars: | 2022-10-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailXi has made it 'crystal clear' that China will stick to its zero-Covid policy: Research firmJunheng Li of JL Warren Capital says China's zero-Covid policy could continue till the first half of 2023, adding that that could be "devastating."
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