on the GM bankruptcy
Early this morning a friend told me about GM finally filing for bankruptcy protection. Probably this hasn`t come as a surprise, so nobody gonna be particularly shocked.
Unlike many people think, chapter 11 bankruptcy doesn`t mean that the company is going out of business. Much more it is an opportunity for a company to restructure, reduce its obligations, renegotiate contracts with unions, dealers, parts suppliers… and increase its competitiveness.
The GM of the future will look way different from the GM we have known until today. The new company will be much smaller, more flexible and more competitive.
In the best of cases, the new GM will become a leading grand-scale manufacturer of electric cars as well as hybrids and efficient cars with combustion engines. The Chevy Volt is the first step in the right direction. America should lead the electrification of mobility to renew its automobile industry and create millions of jobs in the energy tech sector.
To learn more about my view, you can read these posts:
myVIEW: why bankruptcy is the best solution for GM’s problems
How to save the American auto industry? No time for baby steps!
reporting from Tokyo, Japan (check out Category “Japan” for info about my trip http://www.whatmattersweblog.com/category/japan/ )
