reuters.com

GM Renews 20-Year China Joint Venture With SAIC; Halts Chevrolet Sales

General Motors logoGeneral Motors
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SAIC Motor logoSAIC Motor
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GM will renew its China joint venture with SAIC for 20 years, following a restructuring that included plant closures and model cuts. The terms support exports of Buicks and Cadillacs from China to the Middle East, Africa, South America and more, with Buick Electra exports later this year. GM will focus on Cadillac and Buick in China and discontinue Chevrolet sales, responding to pressure from Chinese rivals such as BYD.

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