General Motors faces a $5 billion setback as it struggles to regain traction in the world's largest auto market.
GM's operations in China, primarily via its two joint ventures SAIC-GM and SAIC-GM-Wuling, used to be very profitable.
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 ...
Facing intense pressure from other EV makers, GM should seriously consider exiting its China business, Christopher S. Tang ...
SAIC-GM-Wuling sold its 1.4-millionth Wuling MINI EV unit in China in November 2024, maintaining its leadership in the new ...
General Motors told shareholders on Wednesday that it would record two non-cash charges totaling more than $5 billion on its ...
GM’s CEO Mary Barra told Fortune in October that China’s EV price war “has become a race to the bottom with pricing and the ...
General Motors will take more than $5 billion in one-time charges in the fourth quarter related to a struggling Chinese joint ...
China, once GM’s largest and most important market, has become its biggest problem. General Motors told shareholders on Wednesday that it would record two non-cash charges totaling more than $5 ...
The automotive giant revealed that it will reduce the value of its equity stakes in the ventures by $2.6bn to $2.9bn.
GM’s issues in China are no surprise to the automaker. The company lost $347 million in the region through Q3 of this year ...
General Motors said in a regulatory filing that it will incur more than $5 billion in non-cash charges and write-downs ...