General Motors saw record revenue and double-digit EBIT-adjusted margins in the third quarter, thanks mainly to production increase and robust pricing. However, the carmaker has dialed back its EV production goal due to the delay of the battery production launch in Ohio.
Chinese automaker Great Wall Motor (GWM) has announced it will set up a fully-owned semiconductor subsidiary to foster its own chip design and manufacturing with a registered capital of CNY50 million (US$6.9 million).