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Capitalism: GM wants to scale down to free market for Tesla
  • General Motors will no longer make the plug-in hybrid Chevy Volt, ceasing production on March 1st, 2019. The news comes as part of a wider plan by GM to slash car production in North America and halt production of several low-selling brands.

    GM plans to close several plants:

    1. Oshawa Assembly in Oshawa, Ontario, Canada.
    2. Detroit-Hamtramck Assembly in Detroit.
    3. Lordstown Assembly in Warren, Ohio.
    4. Baltimore Operations in White Marsh, Maryland.
    5. Warren Transmission Operations in Warren, Michigan.
    6. In addition to the previously announced closure of the assembly plant in Gunsan, Korea, GM will cease the operations of two additional plants outside North America by the end of 2019 — in Oshawa, Ontario; Detroit, Michigan; and Warren, Ohio — putting the future of those plants in doubt.

    An estimated 14,000 factory workers and white-collar employees stand to lose their jobs.

    It is also expected that Nissan-Renault will have announcements coming within month or two.