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GM JV To Launch Cabrio EV In China: Bloomberg

General Motors Co’s (NYSE:GM) joint venture in China is launching a two-seater convertible electric vehicle, Cabrio, on September 1,…
byShivani Kumaresan
August 31, 2022
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  • General Motors Co’s (NYSE:GM) joint venture in China is launching a two-seater convertible electric vehicle, Cabrio, on September 1, 2022, Bloomberg reports.
  • The launch follows the joint venture SAIC-GM-Wuling Automobile’s previous offering, Hongguang Mini.
  • Cabrio is expected to cost between 100,000 yuan ($14,500) and 200,000 yuan.
  • The car will be allotted by a lottery system, the winners of which will be announced later in September.
  • The lottery system is due to a small production window of 100 to 200 cars a month.
  • Price Action: GM shares closed lower by 0.74% at $39.13 on Tuesday.
 
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The downgrade reflects worries about Chegg's ability to expand its subscriber base amid heightened competition at lower price points, with increasing investments in AI initiatives, including integrating generative AI, affecting near-term margins and investor confidence in 2024.

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