GM to take more than $5 billion in charges on China operations
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.
GM sees $5 billion impact from restructuring in China
GM’s CEO Mary Barra told Fortune in October that China’s EV price war “has become a race to the bottom with pricing and the level of subsidies.” Barra explained that low-cost loans enable some companies to sell cars at a loss, which puts pressure on foreign automakers like GM.
General Motors said in a regulatory filing that it will incur more than $5 billion in non-cash charges and write-downs ...
General Motors plans to sell its stake in a $2.6 billion electric vehicle battery cell plant in Michigan to its joint venture ...
In a government filing Wednesday, General Motors indicated its investment in its operations in China have devalued by $5 ...
GM’s issues in China are no surprise to the automaker. The company lost $347 million in the region through Q3 of this year ...
General Motors Co.’s stock slid 2.9% early Wednesday as the auto giant’s joint-venture in China booked more than $5 billion ...
Auto giant General Motors warned in government filings on Wednesday that it will take a $5 billion hit in the fourth quarter ...
Some interpret this as another sign GM is pulling back on EVs, but that's not the case. In this video, Travis Hoium shows why this is a simple business model shift from GM and makes a lot of sense for ...
General Motors and EV charging company EVgo announced that they’ve installed their 2,000th public EV charging stall, in ...
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