GM Taking More Than $5B Hit on Joint Venture in China
General Motors said in a regulatory filing that it will incur more than $5 billion in non-cash charges and write-downs associated with its joint venture with SAIC Motor Corporation in China.
GM to take $5 billion hit over struggling China joint venture
General Motors (GM) is expected to take a $5 billion hit in non-cash charges over its joint-venture operation in China with SAIC Motor Corp. (600104.SS). Yahoo Finance senior autos reporter Pras Subramanian joins Catalysts to explain the situation,
GM To Take More Than $5 Billion In Charges From China Joint Ventures
Restructuring and maintaining the SAIC-GM joint venture is costing GM billions this year as sales continue to decline against domestic competition.
GM Takes $5B Hit to Restructure Struggling China Ventures
GM reported a $347 million loss from these ventures between Jan. and Sept., compared with a $353 million profit during the same period in 2023.
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 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 .
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 is taking a $5 billion hit to fix up its struggling China business
General Motors (GM) is set to take a hit of more than $5 billion to fix up its joint venture business in China, the automaker said Wednesday.
GM Writes Down Chinese Joint Venture. It’s a Warning for American Car Makers.
General Motors will take more than $5 billion in one-time charges in the fourth quarter related to a struggling Chinese joint ...
GM sells stake in Ultium Cells joint venture battery plant
The plant is one of three U.S. facilities that the automaker planned to operate as part of its joint venture with LG Energy ...
US proposes $7.54 billion loan to Stellantis, Samsung SDI battery joint venture
The U.S. Energy Department said Monday it is proposing to loan up to $7.54 billion to a joint venture of automaker Stellantis ...
GM to sell stake in battery cell plant to joint venture partner for roughly $1 billion
General Motors plans to sell its stake in a $2.6 billion electric vehicle battery cell plant in Michigan to its joint venture ...
Electrek20h
US to loan $7.54B to Stellantis joint venture for 2 EV battery plants
The US DOE says it will loan up to $7.54 billion to a Stellantis and Samsung SDI joint venture to help build two EV battery ...
NXP Semiconductors joint venture breaks ground at Singapore fab
VisionPower Semiconductor Manufacturing, or VSMC, the joint venture formed in September by Vanguard International Semiconductor Corporation and ...
GM offloads its stake in EV battery factory to joint venture partner LGES
General Motors is selling its stake in the nearly completed Ultium Cells battery cell plant in Lansing, Michigan, to its ...
Aviation Week7h
AFI KLM E&M, Saudia Technic Explore Potential GEnx MRO Joint Venture
Air France KLM Engineering & Maintenance (AFI KLM E&M) and the MRO unit of flag carrier Saudia will explore setting up a GE ...
NAI Burns Scalo joint venture to build office and retail project in North Huntingdon
NAI Burns Scalo Real Estate Services is teaming with a Westmoreland County developer to add some office space into the ...
Free Malaysia Today on MSN10h
Ismee unfairly implicated me in 1MDB’s joint venture woes, says Najib
The former prime minister also challenged the veracity of certain documents, claiming the signatures attributed to him looked ...