You are here: Home » International » News » Companies
Business Standard

Trump says GM shift to electric vehicles is 'not going to work': Report

General Motors has come under enormous criticism in Washington after it announced plans to close four plants in the United States and cut up to 15,000 jobs in US

Reuters  |  Washington 

GE's stock has lost about half its value in 2018, and agencies have cut its credit rating in recent weeks to BBB-plus, three notches above junk 	Photo: Reuters
Photo: Reuters

President Donald on Thursday said the decision of Co to shift much of its focus to electric vehicles will not succeed, and he asserted a new trade deal will make it harder for the company to move work to other countries.

Last year, GM said it planned to launch 20 new electric vehicles by 2023 as it faces rising regulatory requirements for zero-emission vehicles in China and elsewhere.

The largest U.S. automaker has come under enormous criticism in Washington after it announced plans to close four plants in the and cut up to 15,000 jobs in

questioned GM CEO Mary Barra's business strategy in an interview with
 

"They've changed the whole of They've gone to all-electric. All-electric is not going to work ... It's wonderful to have it as a percentage of your cars, but going into this that she's doing I think is a mistake," said.

Barra was on Capitol Hill for two days of meetings last week to discuss the company's decision with angry lawmakers from states where plants are closing. "To tell me a couple weeks before that's she going to close in and - not acceptable to me," Trump said.

GM had no immediate comment on Trump's remarks.
 

Trump suggested that a new free trade deal with and makes it "very uncomfortable" for GM to build cars outside the

Trump signed a new trade deal with and on Nov. 30 to replace the North American Free Trade Agreement, but that deal has not been approved by the U.S. Congress.


 

 

 

First Published: Fri, December 14 2018. 01:14 IST
RECOMMENDED FOR YOU