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US President Donald Trump stepped up his criticism of General Motors on Tuesday, a day after the automaker announced plans to close four US plants as part of a broader restructuring.
In a series of tweets, Trump said his administration "is currently considering removing all GM subsidies, including for electric cars." It was not immediately known what subsidies he was referring to and if he could act unilaterally.
US electric vehicle buyers are eligible for a federal tax credit worth up to $ 7,500. The tax credit begins to disappear as soon as a manufacturer sells a total of 200,000 eligible vehicles. GM is approaching this threshold.
"Very disappointed with General Motors and their CEO, Mary Barra, having closed factories in Ohio, Michigan and Maryland. Nothing is closed in Mexico and China. The United States has saved General Motors and we are grateful to them! " Mr. Trump wrote.
"General Motors made a big bet on China several years ago by building factories there (and Mexico) – do not believe this bet will pay off."
GM announced Monday that it was planning to close seven plants worldwide, including two car factories and two engine manufacturing facilities in the United States – a plan contingent on collective bargaining scheduled for next year. .
The Detroit-based company also plans to cut its North American payroll by 15% and stop producing slow-moving sedans. The Chevrolet Volt Hybrid is one of the vehicles that GM expects to lose from its lineup.
Mr. Trump told reporters on Monday that he was "very hard" during a conversation with Ms. Barra and urged the general manager to replace the Chevrolet Cruze with another vehicle in the factory. Lordstown, Ohio, which is expected to close.
GM's shares have extended their losses as a result of Trump's tweets. The stock has fallen 3.7% in recent transactions.
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