Japan’s second- and third-largest automakers hope the deal can help them catch up with Tesla and China’s BYD in electric vehicles and advanced software.
General Motors has gone from market leader to also-ran in the world’s largest car market, stymied by its own missteps and Chinese policies that favored its local rivals.
The automakers, Japan’s second and third largest, are said to be discussing a tie-up that could reshape the country’s industry.
Changing technology, political turmoil and competition from China are cutting into profits and forcing carmakers to cut jobs and close factories.
Faltering U.S. industrial leadership has allowed China to take a harder trade stance as President-elect Donald Trump prepares to take office.
General Motors and other foreign automakers are selling fewer cars and losing lots of money in China, where domestic electric and hybrid cars have taken off.
LG Energy Solution will now solely own a factory in Michigan that it had planned to operate through a joint venture with General Motors.
Tariffs from the United States and other countries are unlikely to stop China’s auto export dominance.
Readers offer environmental and business reasons to support E.V.s. Also: Women in the military; the Amsterdam pogrom; resentment of migrants; true crime.
China’s electric vehicle market is the world’s largest — and also its most cutthroat, with dozens of brands jostling for position.