Following Elon Musk's acquisition, GM suspends its Twitter advertising.
The Detroit manufacturer, a competitor of Elon Musk's Tesla electric car company, said it is delaying advertising as it assesses Twitter's new course. GM further stated that, while it would continue to use the site for customer communication, it would forgo paying for marketing.
'To find out more about how Twitter will change under its new leadership, we are interacting with the service. Our sponsored advertising has temporarily been put on hold, as is common whenever a significant change to a media platform takes place. We'll keep interacting with our clients on Twitter, 'The company declared in a statement that was delivered via email.
The Detroit-based corporation was one among the first to announce billions of dollars in investing under CEO Mary Barra in order to more effectively compete with Tesla in the battery electric vehicle market.
A representative for Ford Motor, a competitor of Tesla, told CNBC that the car manufacturer does not now advertise on Twitter and did not do so before Elon Musk's take-private agreement. We will continue to assess the platform's trajectory under the new ownership, they added.
When shown a screenshot of a promotional tweet from Ford CEO Jim Farley, the employee was unable to say when Ford or one of its partners may have last paid for marketing, including promoted tweets, on the platform. Ford is still using Twitter to communicate with its customers. Other automakers, like Stellantis and Alphabet-owned Waymo, did not immediately respond to requests for comment on whether they expected to discontinue advertising on the social media network or stop using it completely in the wake of Musk's $44 billion purchase of Twitter.
Electric truck maker Nikola declared that it has no plans to change the platform in any way. Rivian decided not to answer. The takeover story's main focus has been Twitter's future development. According to Musk, who calls himself a 'free speech absolutist,' he will reinstate the account of former President Donald Trump, who was blocked due to tweets he made on January 6, 2021, during the Capitol uprising.