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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 to record more than $5B in charges on China operations
General Motors (NYSE:GM) expects to record two non-cash charges of more than $5B on its joint venture in China, the automaker said in a regulatory filing on Wednesday. The Detroit automaker partners with SAIC Motors in China to build Buick,
General Motors Takes $5 Billion Hit From Ailing China Business
The charge marks the latest example of how global automakers are struggling in China as local consumers embrace electric vehicles from homegrown brands.
GM Authority
4h
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 ...
14h
‘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 ...
9h
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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