From CNBC: 2024-12-04 07:06:50

General Motors anticipates over $5 billion in non-cash charges and writedowns for restructuring its joint venture operations with SAIC Motor Corp in China. The Detroit automaker plans to write down the value of joint-venture operations by $2.6-$2.9 billion and expects another $2.7 billion for restructuring costs, including plant closures. GM’s equity income from Chinese operations has plummeted, with market share dropping to 8.6% last year. Joint venture models accounted for 60% of its 2.1 million vehicles sold in China in 2024. GM reported three consecutive quarterly losses in equity income for its Chinese operations this year, totaling $347 million, with a loss of $137 million during the third quarter.



Read more at CNBC: GM expects more than $5 billion impact from China restructuring