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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 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.
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.
4h
‘Race to the bottom’: General Motors grapples with huge losses, uncertain future in China
In a country that not long ago counted Buick and Chevrolet as two of the most popular foreign brands, GM’s profits and market ...
GM Authority
12d
SAIC-GM-Wuling, CATL Announce Commercial EV Battery Swap Strategy
SAIC-GM-Wuling and battery manufacturer CATL will develop a new commercial EV battery swapping strategy in China, with ...
Auto News India
6h
What’s good for China has Been very bad for General Motors. What it means
In China, where not long ago Buick and Chevrolet were two of the most popular foreign brands, General Motors’ profits and market share have tumbled.
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