Part 7/11:
Amidst all these shifts, GM’s posture on electric vehicles (EVs) stood in stark contrast. With electric mobility defining the future automotive landscape, GM lagged behind its competitors. Stuck with the aging Chevy Bolt while handing over control of EV technology to SAIC, GM reduced itself to a mere follower in an industry that clearly demanded leadership.
A Lost Decade for EVs
The 2010 memorandum hamstrung GM's capacity to innovate autonomously. While SAIC churned out advancements in electric technology in China, GM's stagnant development in the U.S. revealed a shocking disinterest in domestic innovation, ultimately jeopardizing its future in an evolving market.