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The auto industry is pulling back on its 'capital junkie' tendencies after unprecedented spending on EVs, self-driving

By CNBC   |   1 year ago
The auto industry is pulling back on its 'capital junkie' tendencies after unprecedented spending on EVs, self-driving

The auto industry is facing a financial reality check after overspending on electric and autonomous vehicles. Automakers are now cutting costs, laying off workers, and restructuring to prioritize profits amid economic challenges and slower EV adoption.

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