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General Motors is taking a $5 billion-plus hit on its operations in China

By Business Insider   |   1 year ago
General Motors is taking a $5 billion-plus hit on its operations in China

General Motors is facing a significant financial setback in China due to fierce competition from local companies. The automaker will write down the value of its joint venture with SAIC Motors by $2.9 billion and incur an additional $2.7 billion in charges for restructuring.

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