Mary Barra is sounding the alarm. GM’s CEO warned that China’s escalating EV price war is putting automakers globally under intense pressure. Although she called it a “race to the bottom” with many companies losing money, Barra admitted that the American automaker isn’t immune.“It has become a race to the bottom with pricing and the level of subsidies,” Barra told Fortune editor-in-chief Alyson Shontell on Wednesday.
At Fortune’s 2024 Most Powerful Women Summit this week, GM’s CEO said the company wants to stand out despite the influx of low-cost Chinese electric cars in global markets.
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