Search results
Results from the WOW.Com Content Network
SAIC General Motors Corporation Limited (commonly known as SAIC-GM; Chinese: 上汽通用汽车) is a joint venture between General Motors Company and SAIC Motor. The company was founded in 1997 as Shanghai General Motors Company Ltd or Shanghai GM ( Chinese : 上海通用汽车 ).
However, since 2017, the Chinese government had indicated that it would liberalize foreign control in the automotive sector, allowing full ownership by foreign companies. [13] In 2017, Tesla was allowed to set up a plant in Shanghai city, making it the first foreign automaker to open a wholly owned factory in China. [14]
Originally established as VIDAMCO (a joint venture with a state owned co.) in 1993 by Daewoo Motor Co. Daewoo bought out its Vietnamese partner in April 2000, making VIDAMCO 100% owned by Daewoo Motor Co. Bought by GM in 2002 as part of the creation of GM Daewoo Auto & Technology Co. Sold to VinFast in 2018.
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 ...
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 for years has owned 50% of its joint venture with SAIC General Motors Corp. and has other joint ventures, including a finance arm.
The company is privately owned by Chinese entrepreneur Li Shufu, ... Zhejiang Geely Ming Industrial Co., Ltd., common known as Geely Ming, or GM Motor, is a ...
In 2013, General Motors saw its Chinese market share decline while its rival Ford Motor saw its Chinese joint venture unit volume rise 50% year-over-year in 2013. General Motors may be feeling the ...
General Motors caused some buzz last week when one of its executives said that the company might someday import cars made in China to the United States. Is that likely to happen any time soon? And ...