Ford workers in Germany's Cologne strike over planned job cuts
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This is a turbulent market, and Ford is not the only company hit by economic troubles and job cuts unfortunately. Nissan's new CEO just announced that it could cut 11,000 jobs and close several plants due to profit losses. China's Nio and Neta posted record losses in 2024 and job cuts, respectively.
Over the the last couple of years, we have even seen insolvencies of many EV makers, particularly in China where the EV hype is supposedly the highest and a lot of new car makers have been emerging over 20 or so years. Even those European, U.S., and Chinese EV makers that are breaking sales records are often either struggling with falling profits or are already loosing money. Chinese car maker Xpeng's CEO has warned a few months ago that many EV firms face a fight to survive. According to experts, one major problem is the overcapacity in China, which leads to intense price pressure.