Over the past few months, America’s Big Three automakers — Ford, General Motors and Stellantis, the oddly named company that owns Dodge, Chrysler and Jeep — landed in big trouble.
Ford, General Motors and Stellantis made billions in profit last year, even after a lengthy strike by autoworkers, and all three companies are forecasting a big 2024.
The biggest threat to the Big Three comes from a new crop of Chinese automakers, especially BYD, which specialize in producing plug-in hybrid and fully electric vehicles.
BYD’s growth is astounding: It sold three million electrified vehicles last year, more than any other company, and it now has enough production capacity in China to manufacture four million cars a year.
A deluge of electric vehicles is coming.
Persons:
—, Stellantis, autoworkers, America
Organizations:
— Ford, General Motors, Dodge, Chrysler
Locations:
U.S, China, Brazil, Thailand, Hungary, Uzbekistan, Indonesia, Mexico