December 04, 2009

GM Turns Chinese, Cedes Control to Shanghai Auto

In Shanghai today GM announced it will cede control of its 12 year old highly successful (and lucrative) joint venture with Shanghai Automotive group to its Chinese partner SAIC Motor Corp. With a controlling interest of 51% SAIC Motor will be able to run Shanghai GM independent of Detroit. Further, a new joint venture will be formed in Hong Kong called General Motors SAIC Investment Ltd. to expand into India and carve market share in the subcontinent for the Wuling microvan and other products....

Labels: , , , , ,

Comments: Post a Comment

Subscribe to Post Comments [Atom]

<< Home

This page is powered by Blogger. Isn't yours?

Subscribe to Posts [Atom]