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GM Suspends Paid Twitter Advertising For The Time Being

GM Suspends Paid Twitter Advertising For The Time Being
After Elon Musk successfully completed his takeover of the social media company, General Motors Co. declared that it had temporarily stopped running paid advertisements on Twitter.
The biggest car manufacturer in the United States stated that it was "engaging with Twitter to understand the direction of the platform under their new ownership."
A request for comment from Twitter did not immediately receive a response. Tesla Inc., a competitor of GM, is also led by Musk.
According to GM, "we have temporarily paused our paid advertising as is normal course of business with a significant change in a media platform." "Customer care interactions on Twitter will continue," the Detroit automaker added.
Over 90% of Twitter's revenue in the second quarter came from ad sales. Some ad agencies and brands expressed skepticism and concern about Twitter's future at a presentation for advertisers in May.
In an open-letter tweet on the eve of the deal's closing, Musk made a direct plea to advertisers: "It goes without saying that Twitter cannot devolve into a free-for-all hellhole where anything can be said without repercussions!
Twitter wants to be the most reputable advertising platform in the world, one that helps you build your brand and expand your business."
Twitter will create a content moderation council "with widely diverse viewpoints," Musk tweeted on Friday. Before the council meets, Musk said, no significant content decisions or account reinstatements will be made.
In another development in the auto industry, China Evergrande New Energy Vehicle Group Ltd. announced on its official Wechat account that deliveries of its Hengchi 5 electric vehicle have begun, with the first 100 customers receiving their cars on Saturday.
A plant in the northern city of Tianjin is where the business, a division of the heavily indebted real estate developer China Evergrande Group, began producing the car last month.
With plans to produce 1 million vehicles by 2025, Evergrande hopes to transition the group's primary business from real estate to the automotive venture over the next ten years.
The company has stated that it will begin mass producing its second EV model in the first half of 2023 and its third in the second half of the following year.
Sport utility vehicle Hengchi 5 costs 179,000 yuan ($24,690.00).

Christopher J. Mitchell

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