General Motors (GM) has recorded a massive $1.6 billion loss as dwindling electric vehicle demand and limited federal support have forced American automakers to rethink their electrification strategies. Several major carmakers in the country went all-in on electrification during the Biden administration and invested tens of billions of dollars in building new electric vehicle lines to lead America’s electric vehicle future.
In the meantime, China’s electric vehicle industry continues to grow by leaps and bounds, with players like BYD regularly outselling Tesla despite being tariff-locked out of some of the largest vehicle markets in the world. U.S.-based entities like Massimo Group (NASDAQ: MAMO) now have to…
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