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China, SAIC Motor
General Motors is taking a $5 billion-plus hit on its operations in China
GM said it would write down the value of its joint venture with China's SAIC Motors by as much as $2.9 billion and incur restructuring charges.
General Motors sees more than $5.3B in charges related to China business
Company owns an equity interest in SAIC General Motors Corporation Limited, or ‘SGM,’ a 50-50 joint venture with SAIC Motor Corp., and an equity interest in SAIC-GMAC Automotive Finance Company Limited.
General Motors to book $5 bil. charge on China operations
US automaker General Motors says it will take a 5 billion-dollar charge to restructure and write down the value of its China operations.
GM Authority
1h
Will SAIC-GM Survive Beyond 2027?
The SAIC-GM partnership began in the 1990s. Its deal expires in 2027, and it's unclear whether it will be renewed in the face ...
12h
‘Race to the bottom’: General Motors grapples with huge losses, uncertain future in China
General Motors CEO Mary Barra has said that China’s crowded market is a “race to the bottom”. For GM, it’s a contest that’s ...
1d
GM Announces More Than $5 Bn Hit To Earnings In China Venture
General Motors announced Wednesday it will book more than $5 billion in losses and write-downs due to the restructuring of ...
7h
General Motors Faces $5 Billion Hit Amid Struggles in Chinese Market
General Motors faces a $5 billion hit in China due to writedowns and restructuring. Learn how GM plans to navigate market ...
1d
General Motors China JV Woes Trigger Billions In Charges: Details
General Motors Company (NYSE:GM) shares are trading lower on Wednesday after the company concluded that a material impairment ...
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