GM is struggling so much in China, it had to announce massive charges to fix its business
China, once GM’s largest and most important market, has become its biggest problem. General Motors told shareholders on Wednesday that it would record two non-cash charges totaling more than $5 billion on its joint venture in China, one related to the restructuring of the operation and another reflecting its reduced value.
Losses in China lead to $5B charge for General Motors as it cuts the value of its assets
The poor performance of the Detroit automaker's Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totalling more than $5 billion USD in the fourth quarter of this year.
Tesla Inc. ( TSLA, Financial) announced a 4.3% year-over -year decline in November China-made EV sales to 78,856 units, as ...
The vehicle and battery manufacturer BYD has entered into a cooperation agreement with TAILG, a Chinese manufacturer of ...
BYD, one of China’s leading battery manufacturers, has partnered with TAILG, a major producer of electric bikes. This ...
BEIJING -- China's new energy passenger vehicle market continued to see robust growth in November, with wholesale figures ...
India's largest automobile manufacturer Maruti Suzuki last month revealed its first electric SUV, e Vitara, in Italy where ...
China’s top maker of electric vehicles (EV) wants to pay a lot less for car parts in the new year, a demand that signals ...
Electric car makers including Tesla Inc. and BYD Co. have unleashed further discounts and incentives in China in a final push ...
1don MSN
BYD has now sold over 3.7 million cars this year, meaning it has smashed its annual target of 3.6 million sales with a month ...
China’s leading EV maker has already sold more vehicles this year than expected. After another record-breaking sales month in ...
Chinese rival BYD hit yet another monthly record high in November with passenger vehicle sales up 67.2% year-on-year.
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 ...
BYD Auto has taken the world by storm with rapid expansion to more than 70 countries around the globe, and now the automaker ...
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