GM CEO Mary Barra Warns EVs Will Be A Race To The Bottom With The Cheapest Vehicles Winning

Mary Barra is sounding the alarm. GM’s CEO warned that China’s escalating EV price war is putting automakers globally under intense pressure. Although she called it a “race to the bottom” with many companies losing money, Barra admitted that the American automaker isn’t immune.

“It has become a race to the bottom with pricing and the level of subsidies,” Barra told Fortune editor-in-chief Alyson Shontell on Wednesday.

At Fortune’s 2024 Most Powerful Women Summit this week, GM’s CEO said the company wants to stand out despite the influx of low-cost Chinese electric cars in global markets.

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