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 Take $5 Billion Charge on China Business
General Motors said it expects to incur more than $5 billion in impairment charges and writedowns in the fourth quarter related to its joint venture with China’s SAIC Motor.
General Motors writes off more than $5bn from value of China businesses
General Motors is to write off more than $5bn from the value of its businesses in China, as slowing demand in the country hits carmakers. In an announcement on Wednesday, GM said that there was a “material loss in value of our investments in certain of the China joint ventures .
G.M.’s Ailing China Business Will Deal It a $5 Billion Blow
General Motors and other foreign automakers are selling fewer cars and losing lots of money in China, where domestic electric and hybrid cars have taken off.
GM Sees $5 Billion Hit to Restructure Troubled China Business
General Motors Co. will incur more than $5 billion in charges and writedowns tied to its troubled operations in China as the automaker tries to salvage its once-profitable business in the world’s largest car market.
GM to incur more than $5 billion in impairment charges and writedowns on its China business
General Motors Co.’s stock slid 2.9% early Wednesday, after the company said it expects to incur more than $5 billion in impairment charges and writedowns related to its China business. In a regulatory filing,
GM expects more than $5 billion impact from China restructuring, including plant closures
General Motors expects a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 ...
Science Applications International (NYSE:SAIC) Earns Neutral Rating from Analysts at UBS Group
Equities researchers at UBS Group assumed coverage on shares of Science Applications International (NYSE:SAIC – Get Free ...
Business Insider2d
SAIC initiated with a Neutral at UBS
UBS analyst Gavin Parsons initiated coverage of SAIC (SAIC) with a Neutral rating and $134 price target as the firm initiates coverage on on Government IT & Services stocks. Government austerity ...
Fintel on MSN2d
UBS Initiates Coverage of Science Applications International (SAIC) with Neutral Recommendation
Fintel reports that on December 2, 2024, UBS initiated coverage of Science Applications International (NasdaqGS:SAIC) with a ...
TweakTown9h
NVIDIA's new Thor chip for smart EVs picked up by BYD, SAIC Motors, other Chinese EV companies
NVIDIA is reportedly working on Thor: its next-gen chip for EVs of the future, with Chinese EV makers like BYD, SAIC Motors, ...
GlobalData on MSN5d
VW Group and SAIC extend JV agreement period to 2040
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Volkswagen and Chinese partner SAIC to sell joint venture plant in west China's Xinjiang
Volkswagen and Shanghai's SAIC Motor have agreed to sell a factory in China's far western Xinjiang region that drew criticism ...
SAIC Volkswagen agrees to sell controversial Xinjiang, China, auto plant
Germany's Volkswagen Group and its Chinese partner have sold a factory in the Xinjiang region of China, where accusations of ...
中国日报网2d
VW and SAIC joint venture renewed
Volkswagen AG has extended its joint venture with SAIC by 10 years to 2040, a sign of the global carmakers' confidence in the ...
SAIC Announces Appointment of New Board Member
Science Applications International Corp. (NASDAQ: SAIC) today announced the appointment of U.S. Army veteran and former ...
Metal2d
SAIC Motor launches second-generation magnesium alloy case for electric drive system
Shanghai (Gasgoo)- On November 29, SAIC Motor R&D Innovation Headquarters officially unveiled its self-developed second-generation magnesium alloy case for electric drive assembly, along with a ...
中国日报网6d
SAIC, VW extend joint venture to 2040
China's SAIC Motor and German car group Volkswagen AG have extended their joint venture by 10 years, prolonging their ...