GM joint venture waves off fears after big losses
China DailyThe GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, US, on March 16, 2021. GM China has called its China business a "good asset" in an effort to dispel market expectations that the Detroit-based carmaker may give up the world's biggest vehicle market, which may erode the confidence of investors and car buyers in its prospects. "GM is working closer than ever with our joint venture partner SAIC to restore the business in China to make it profitable and sustainable," said GM China in a statement on Thursday. The statement came after GM told shareholders on Wednesday that it would record two non-cash charges totaling more than $5 billion on its Chinese joint venture, SAIC-GM, which produces Buick, Chevrolet and Cadillac models. GM's operations in China, primarily via its two joint ventures SAIC-GM and SAIC-GM-Wuling, used to be very profitable.
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GM joint venture waves off fears after big losses
China Daily
GM joint venture waves off fears after big losses
China Daily
GM is struggling so much in China, it had to announce massive charges to fix its business
CNN
Losses in China lead to $5-billion charge for General Motors
LA Times
VW and SAIC joint venture renewed
China DailyVolkswagen and Chinese partner SAIC to sell joint venture plant in west China’s Xinjiang
Associated Press
General Motors layoffs: Company cuts China jobs, to focus on electric vehicles
Hindustan Times
GM reiterates commitment to Chinese market
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