China’s largest carmaker to cut thousands of jobs at its joint ventures with GM and Volkswagen
Amid an intense price war and lost market share to BYD and Tesla, China’s state-owned automaker SAIC Motor is reportedly making drastic job cuts this year at its joint ventures with General Motors and Volkswagen and at its EV unit – with mass layoffs a rare move for a China-owned company.
The total number accounts for 30% of employees at SAIC-GM, 10% at SAIC Volkswagen, and more than 50% at its Rising Auto EV subsidiary, two unnamed sources told Reuters.
Mass layoffs by Chinese-owned firms are extremely rare, but the fierce price spearheaded by BYD has potentially forced its hand. In recent year, legacy carmaker SAIC and foreign partners have lost market share to Tesla and privately owned companies such as BYD. In China, there are more than 94 brands offering more than 300 EV models, according to Counterpoint Research, so there is no shortage of competition.
For nearly two decades, SAIC, which employs more than 200,000 people, has been a powerhouse in China, but its sales fell by 16% in the first two months of this year from a year earlier, according to an SAIC filing.
According to the report, the layoffs won’t all happen at once but are aimed for this year. Sources told Reuters that the bulk of the firings will happen via “implementing stricter performance standards and offering payouts to lower-rated employees who resign.”
SAIC refutes the claim, however, telling Reuters that the company doesn’t plan to downsize, and a spokesperson had no comment regarding efforts by the company to force low performers to resign or other strategies to reduce staff. In fact, SAIC said that it had recruited 2,000 employees earlier this year.
A VW spokesperson, however, declined to comment on the layoffs but added that employee performance reviews were a “long-term mechanism” to ensure “every employee can be qualified for their job requirements.”
According to the report, SAIC has a pressure-cooker-style rating system for employees from A to D, with employees rated D offered payouts to quit, while C-rated employees are put into “uncomfortable positions” forcing them to quit, the sources said. Last year, about 10% of SAIC-VW employees, for example, received a C or D rating. Also, these ratings apply to “white-collar professionals,” not factory workers, the source said. At this point, it’s unclear whether or not factory workers are included in the planned layoffs.
For its part, SAIC Volkswagen makes the ID.3 EV and Audi-branded vehicles, among other models. SAIC-GM makes Chevrolets, Buicks, and Cadillacs.
In China, EV sales account for 23% of total car sales, with that number on the rise. Of course, China granted Tesla a special exception from its longstanding requirement of making foreign automakers form joint ventures with Chinese-owned firms. Tesla set up its wholly own entity in China in 2018 in Shanghai, where it produces its biggest global output.
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The 2025 Hyundai IONIQ 5 got a major glow up with extra driving range, a sleek interior and exterior facelift, and even Tesla Supercharger access with an added NACS port. With leases starting at just $179 per month, the Hyundai IONIQ 5 might be your best bet to get into an EV right now.
How much does the 2025 Hyundai IONIQ 5 cost to lease?
Hyundai upgraded its best-selling electric SUV in every way possible for the 2025 model year. The 2025 IONIQ 5 can drive up to 318 miles on a single charge, recharge from 10% to 80% in under 20 minutes, and is available starting at just $42,500.
After cutting lease prices last month, the 2025 Hyundai IONIQ 5 was available to lease for as low as $179 per month.
The offer was set to end on July 7, but Hyundai extended it through its new “Hyundai Getaway Sales Event.” The 2025 Hyundai IONIQ 5 SE Standard Range model is still available for lease, starting at just $179 per month.
That’s for the base version, which has a range of up to 245 miles. The offer is for a 24-month lease with $3,999 due at signing.
The long-range SE RWD variant, with a driving range of up to 318 miles, can be leased for as little as $199 per month. Upgrading to the AWD model will cost $249 per month. You can even snag the off-road XRT variant for $299 a month right now.
Hyundai upgraded the IONIQ 5 with a sleek facelift, adding to its already bold design. Inside, the 2025 IONIQ 5 features a redesigned center console, steering wheel, and HVAC control system based on driver feedback.
It also features a more powerful, next-gen infotainment system. The setup includes dual 12.3″ driver display and infotainment screens with standard wireless Apple CarPlay and Android Auto, voice-recognition, and more.
If you’re looking for something a little bigger, Hyundai’s three-row electric SUV, the IONIQ 9 (Check out our review), is listed for lease starting at just $419 per month.
| 2025 Hyundai IONIQ 5 Trim | EV Powertrain | Driving Range (miles) | Starting Price* | Monthly lease price July 2025 |
| IONIQ 5 SE RWD Standard Range | 168-horsepower rear motor | 245 | $42,500 | $179 |
| IONIQ 5 SE RWD | 225-horsepower rear motor | 318 | $46,550 | $199 |
| IONIQ 5 SEL RWD | 225-horsepower rear motor | 318 | $49,500 | $209 |
| IONIQ 5 Limited RWD | 225-horsepower rear motor | 318 | $54,200 | $309 |
| IONIQ 5 SE Dual Motor AWD | 320-horsepower dual motor | 290 | $50,050 | $249 |
| IONIQ 5 SEL Dual Motor AWD | 320-horsepower dual motor | 290 | $53,000 | $259 |
| IONIQ 5 XRT Dual Motor AWD | 320 horsepower dual motor | 259 | $55,400 | $359 |
| IONIQ 5 Limited Dual Motor AWD | 320-horsepower dual motor | 269 | $58,100 | $299 |
To sweeten the deal, Hyundai is throwing in a free ChargePoint Level 2 home charger with the purchase or lease of a new 2025 IONIQ 5 or 2026 IONIQ 9.
Both the 2025 IONIQ 5 and 2026 IONIQ 9 are built at Hyundai’s new EV plant in Georgia. The current lease offers include the $7,500 federal EV tax credit, which is set to expire at the end of September. Hyundai’s new deals are available through September 2, 2025.
Ready to test one out for yourself? We can help you get started. You can use our links below to find deals on the Hyundai IONIQ 5 and IONIQ 9 near you.
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Environment
Tesla Semi efficiency improves in real-world trucking test covering 4,494 miles over 3 weeks
The Tesla Semi, Tesla’s electric Class 8 semi-truck, saw its efficiency improve in a new real-world trucking test covering 4,494 miles over three weeks.
The Tesla Semi underwent significant changes over the years of delays.
Tesla officially unveiled the “production version” in 2022, but the vehicle never entered volume production. It is expected to finally happen at the end of the year at a new factory in Nevada.
When unveiling the “production version”, which turned out not to be the final production version, Elon Musk said that the Tesla Semi has an efficiency of 1.7 kWh per mile.
In September 2024, Tesla reported improvements in its own fleet after covering 250,000 miles. It claimed to be achieving 1.6 kWh per mile.
Last year, two Tesla Semi customers got closer to what Musk claimed in 2022. DHL got 1.72 kWh per mile in their own test, and Saia got 1.73 kWh per mile.
Now, Tesla Semi appears to have improved quite a bit in a new real-world test by logistics company ArcBest.
The company claims to have put Tesla Semi through regular operations, varying from lane dispatch to regional runs over three weeks:
Over a three-week period, ABF operated a Tesla Semi across typical dispatch lanes, including over-the-road routes between service centers in Reno, Nevada and Sacramento, California. The pilot also included regional runs in the Bay Area and rail shuttle operations.
ArcBest claims that Tesla Semi averaged 1.55 kWh per mile during the three weeks:
The electric Semi logged 4,494 miles, averaging 321 miles per day with an overall energy efficiency of 1.55 kWh per mile.
Efficiency in the trucking business varies considerably based on several factors, including the load, but it is nonetheless an impressive performance.
Dennis Anderson, ArcBest chief innovation officer, commented on the test program:
“Freight transportation is a vital part of the global economy, and we know it also plays a significant role in overall greenhouse gas emissions. While the path to decarbonization presents complex challenges — such as infrastructure needs and alternative fuel development — it also opens the door to innovation. Vehicles like the Tesla Semi highlight the progress being made and expand the boundaries of what’s possible as we work toward a more sustainable future for freight.”
Tesla says that the truck should enter volume production toward the end of the year and customer deliveries are expected to start next year.
While the efficiency of the electric truck has improved, we previously reported that its price has increased significantly.
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Range Rover now has its own logo for the first time. The luxury automaker is unveiling a sleek new look as it gears up to launch its first electric SUV later this year.
Range Rover introduces its first logo
Since it launched its first vehicle in 1970, the Range Rover badge has become an iconic status symbol. You can’t miss the classic Range Rover look.
With its first EV due out later this year, the luxury automaker is preparing for a new era. JLR revealed the new Range Rover logo, a first for the luxury automaker, during an investor presentation.
The new logo is a stark contrast to the “Range Rover” badge we are accustomed to seeing, featuring a minimalist design similar to the Rolls-Royce emblem.
JLR told Autocar that the new logo won’t replace the signature Range Rover badge at the front or rear. Instead, it will be used to complement it.
“The Range Rover Motif has been developed as a smaller symbol for where our familiar Range Rover device mark does not fit, such as on a label or as part of a repeating pattern, and within event spaces where an emblem is more appropriate,” the company said.
With Range Rover’s first electric SUV set to hit showrooms later this year, will we see it featured on the new EV? JLR confirmed in May that the Range Rover Electric now has over 61,000 clients on the waitlist.
The company claims the new EV is undergoing “the most intensive testing any Range Rover vehicle has ever endured” ahead of its big debut later this year.
According to Thomas Müller, Range Rover’s executive director of product engineering, the electric SUV is already outperforming some of its top gas-powered models.
JLR has already begun testing new EV production lines at its Solihull, UK, plant in preparation for the new Range Rover model. Next year, the luxury brand is expected to introduce the smaller Sport and Velar EV models.
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