Chinese “historical” car manufacturers are the first to suffer from the electric revolution and the price war in the Middle Kingdom. Including SAIC Motor, the local number one, which employs 207,000 people. The public group, owned by the State of Shanghai, may sell more than 5 million vehicles per year on a market of 30 million units, but it is preparing to downsize to maintain its leadership position.
According to Reuters, SAIC is considering cutting thousands of jobs this year, an unusual practice in the country. It is one of the industry giants, like Dongfeng and FAW, which allowed Western manufacturers to enter the Middle Kingdom in the 1980s and 1990s through joint ventures. An essential condition at the time to settle in China. Thus, it is thanks to SAIC that the Volkswagen group then General Motors built factories and won new customers on the local market in full…
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