By on June 16, 2022

Lyriq

In 2017, General Motors bowed out of the European market. The tactical retreat came after nearly two decades of struggling to make the region profitable and freed up cash the company could use to expand more profitable endeavors located elsewhere. This basically entailed widening its footprint in China, eliminating modestly sized passenger vehicles from its North American lineup, and setting aside any extra money for electric vehicle development. However, the automaker’s Western clientele has been slower to embrace EVs than hoped, even with gas prices becoming astonishingly high, and market analysts expect the United States to be the very last developed nation to see alternative powertrains go mainstream.

One possible solution for this conundrum is to sell those all-electric vehicles elsewhere — namely Europe.  (Read More…)

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