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America's Biggest Car Companies Are in Trouble
Plain English with Derek Thompson
Adapting to the Shift Towards EVs in the Auto Industry
In transitioning to electric vehicles (EVs), both Hollywood and US automakers, like GM, face structural similarities. They are moving from old business models to new ones and becoming more dependent on certain market segments. The drop in Chinese sales for US automakers mirrors Hollywood's decline in the Chinese box office, increasing reliance on the US market segment. Both industries are challenged to turn profits on EVs due to the complex supply chain and assembly line requirements. US automakers lag behind Chinese companies in battery technology, which is crucial for EV production.
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