GM Needs More Stakes

According to related news said that General Motors Corporation is in talks to increase its stake in a Chinese joint venture that makes small, inexpensive cars and vans. The U.S. auto maker is in negotiations with the government of Guangxi province in southwestern China to expand its holding in SAIC GM Wuling Automobile Co., Ltd.

 

Now, Shanghai Automotive owns 50.1% of the Wuling venture, GM owns 34% of Wuling and state-owned Liuzhou Wuling Motors Co., Ltd owns the remainder. An official at the Guangxi State-Owned Assets Supervision and Administration Commission, the regional government agency that owns Liuzhou Wuling, confirmed that it is in talks with GM.

 

The Wuling joint venture manufactures Sunshine vans, with one-liter engines that sell for about $3,700. The Chevy Spark, a minicar also made by Wuling, sells for about the same price. GM has looked to Wuling as important part of its effort to boost sales in emerging markets to offset declining sales in the U.S.

 

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