According to insiders, China’s largest car manufacturer, the state-owned Shanghai Automotive Group (SAIC), plans to cut thousands of jobs at its joint ventures with Volkswagen and General Motors. Reuters reported on Monday, citing two sources familiar with the matter, that jobs will also be cut in the electric car division. The company plans to lay off ten percent of jobs at SAIC-Volkswagen and more than half at its subsidiary Rising Auto EV. The sources claimed that the joint venture with GM will lose 30 percent of its workforce.