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Losses in China lead to $5B 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 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,
Losses in China lead to $5 billion charge for General Motors as it cuts the value of its assets
The noncash charges will reduce the company’s net income, but they will not affect adjusted pretax earnings, GM said in the filing with the U.S. Securities and Exchange Commission.
GM Authority
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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 ...
2d
General Motors Reports Material Impairments in China Ventures
General Motors Company (NYSE: GM) has recently disclosed in an 8-K filing with the Securities and Exchange Commission that its equity interest in SAIC General Motors Corporation Limited (SGM), a joint ...
2d
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 ...
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