General Motors (GM), which competes with Tesla, has reportedly temporarily paused its ads on Twitter after the billionaire entrepreneur Elon Musk took over.
The Chief Executive Officer of Tesla is now the owner of the giant social media platform Twitter after a chaotic timeline of the acquisition.
(Photo : Bill Pugliano/Getty Images)
A Chevrolet Volt extended-range electric vehicle sits at an event where Fritz Henderson, CEO and President of General Motors, announced that GM will invest $43 million in Brownstown Township, Michigan to manufacture lithium-ion battery packs for the Chevrolet Volt and other extended-range electric vehicles at the GM Brownstown Battery Assembly facility August 13, 2009 in Brownstown Township, Michigan.
And as such, one of the rivals of Tesla, GM, has confirmed that it has suspended paying for ads on the social network.
Tesla Rival, GM, Halts Advertisements on Twitter
As per the latest report by CNBC, the renowned Detroit-based carmaker has confirmed that it will temporarily pause all of its ads on the Musk-led social media.
The decision of the giant automaker comes after the big boss of Tesla completed his acquisition of the microblogging service.
The carmaker, which now offers electric vehicles like Musk's tech giant, notes that it still has to evaluate where the social network is headed.
The renowned carmaker disclosed to CNBC that they "are engaging with Twitter to understand the direction of the platform under their new ownership."
GM states that the suspension of its paid ads on Musk-led service is a "normal course of business with a significant change in a media platform."
How About GM's Twitter Account?
But does this mean that the Detroit firm is also looking to leave the platform? CNBC reports that GM assures its customers that it would continue interacting with them using the Blue Bird social media.
The auto company clarifies that "customer care interactions on Twitter will continue."
So it means that the official account of the carmaker would remain to be available. However, Twitter users would no longer see any paid ads from the Tesla competitor for the meantime following the new ownership.
According to a recent report by Business Insider, GM is the first-ever giant firm that has publicly confirmed that it has suspended its paid ads on the now Musk-owned social media since his takeover.
Read Also: Elon Musk Supports Absolute 'Free Speech' on Twitter as its New Owner
Elon Musk is Now In-Charge of Twitter
The Tesla and SpaceX boss is officially the new owner of the giant social media platform Twitter.
(Photo : CHRIS DELMAS/AFP via Getty Images)
This illustration photo taken on July 8, 2022 shows Elon Musk's Twitter page displayed on the screen of a smartphone with Twitter logo in the background in Los Angeles.
And under his helm, Musk says he is keen on curbing censorship on the platform. However, Business Insider notes that this move worries some giant advertisers on the social network.
The news outlet reports that one of the top brass of the advertising agency, GroupM, claims that giant firms are planning to suspend advertising once the former United States President, Donald Trump, makes his comeback on Twitter.
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Written by Teejay Boris
