General Motors (GM) Chief Financial Officer Paul Jacobson warned of increasing competition in the US, with global automakers expanding their US presence amid fierce competition with Chinese rivals, the Financial Times reported Monday, citing an interview with Jacobson.

The news outlet cited Toyota Motor (TM) and Stellantis (STLA) as examples of companies targeting the US market to counter declining sales in China and other regions, while China's BYD and Chery brands continue to expand their international sales.

Jacobson told the Financial Times that General Motors is aiming to be "as competitive as possible," with lower structural costs and high-quality products, to brace for the expected increase in competition.

General Motors did not immediately respond to MT Newswires' request for a comment.

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