The stock exchange day: GM changes strategy in China

General Motors (GM) 29.84

General Motors is asking for shrinking market shares in China its strategy around and put on more Electromobility and automated driving. "The market is changing dramatically," said GM's new China boss Julian Blissett. The largest US automaker wants to respond to this and make it cheaper Electric cars, but also larger, more environmentally friendly SUV bring to market where the group earns more. The Cadillac brand, which is driving the electrification of its model range and has many customers in the premium segment, plays a key role in the plans. The Buick brand will also be more electrified, announced Blissett.

GM also wants that Chinese brand Wuling, which the Americans operate together with their local partner SAIC, are converting them into a manufacturer of inexpensive e-vans, so-called "People Mover". China has long been relying on e-mobility to curb the environmental pollution in its big cities.

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