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SAIC-GM was founded on June 12, 1997, with 50% investment each from each partner. SAIC-GM began assembling the venture's first vehicle, the Buick Regal, in Shanghai, China in April 1999.
General Motors Company (GM) [2] is an ... GM also holds interests in Chinese brands Baojun and Wuling via SAIC-GM-Wuling Automobile. [2] GM further owns a namesake ...
In 2002, the joint venture SAIC-GM-Wuling was established, with SAIC holding 50.1% of the shares, General Motors 34%, and Wuling Group (later renamed Guangxi Auto) 15.9%. [5] Wuling transferred its microvan and small truck production to the joint venture. By 2011, GM increased its ownership stake to 44%, reducing Wuling's share to 5.9%. [6] [7] [8]
There are hundreds of automobile manufacturers operating in China, the country with the largest automotive industry in the world. It includes state-owned manufacturers, privately owned manufacturers, foreign manufacturers, and joint ventures between local and foreign manufacturers.
General Motors expects to take a hit of more than $5 billion on its struggling China business. The automaker said it would write down the value of its Chinese operations by as much as $2.9 billion.
The poor performance of General Motors' Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totaling more than $5 billion in the fourth quarter of ...
Total GM sales -- the company has three separate joint ventures -- in China were up 10.1% in June versus year-ago. Despite rising concerns about the Chinese economy, General Motors (NYS: GM) has ...
On April 17, 2018. The National Development and Reform Commission (NDRC) of China announced that foreign ownership limits on automakers would be phased out over a 5-year period. [23] [24] On 28 July 2018, China lifted foreign ownership restrictions on new energy vehicle production, which benefited American electric car manufacturer Tesla, Inc ...