General Motors is in talks with the government of Guanxi province to raise its stake in SAIC GM Wuling Automobile Corp, people familiar with the matter told the Wall Street Journal. The US carmaker currently holds a 34% stake in the joint venture. It produces inexpensive vans and trucks. Shanghai Automotive Corp holds 50.1% and state-owned Liuzhou Wuling Motor Co the remainder. GM has been using its Wuling vehicles - which sell for around US$3,700 - to expand its market share in China. The automaker hopes Wuling will serve as a launching pad to sell low-cost cars in other emerging markets.
You are currently reading
total words in this article.
To continue reading this article, you must be a subscriber. Log in now..