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Losses in China lead to $5 billion charge for General Motors
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.
Losses in China lead to $5 billion charge for General Motors as it cuts the value of its assets
The poor performance of General Motors’ Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totaling more than $5 billion in the fourth quarter of this y
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 ...
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 ...
6h
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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