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World News@lemmy.worldEnglish · 10 days ago

Bank of America tells Detroit’s Big 3 they can’t make money in China and should just leave the hypercompetitive car market ‘as soon as they possibly can’

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Bank of America tells Detroit’s Big 3 they can’t make money in China and should just leave the hypercompetitive car market ‘as soon as they possibly can’

schizoidman@lemmy.ml to

World News@lemmy.worldEnglish · 10 days ago

cross-posted to:
[email protected]

BofA argues GM, Ford, and Stellantis either face a future of funding continued losses in China or they can redeploy resources to finally become competitive with Tesla. But they can’t do both.

cross-posted from: https://lemmy.ml/post/17087653

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Auto industry can’t survive without government support. It’s a taxpayer subsidized industry.

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