00:00It's Benzinga, bringing Wall Street to Main Street.
00:02General Motors and SAIQ Motor extended their 50-50 China joint venture for 20 years through
00:082047, renewing a partnership that was set to expire next year, according to CNBC.
00:13The company said the venture will refocus on domestic sales of Buick and Cadillac vehicles
00:18in China. It will also expand exports of China-built models, including Chevrolet vehicles,
00:24to markets outside the U.S. The extension follows a restructuring after GM's earnings in China
00:29declined from about $2 billion annually in 2018 to losses in 2024 and 2025. GM reported $248 million
00:37in equity income through the first six months of this year after restructuring actions that
00:42resulted in $1.1 billion in special charges last year. For all things money, visit Benzinga.com.
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