China’s largest carmaker to cut thousands of jobs at its joint ventures with GM and Volkswagen
Baua Electric
APRIL 1, 2024
Mass layoffs by Chinese-owned firms are extremely rare, but the fierce price spearheaded by BYD has potentially forced its hand. SAIC-GM makes Chevrolets, Buicks, and Cadillacs. Of course, China granted Tesla a special exception from its longstanding requirement of making foreign automakers form joint ventures with Chinese-owned firms.
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