It’s been a hectic couple of weeks for General Motors and its Venezuelan operations. Government authorities in Venezuela illegally seized the automaker’s manufacturing hub, which prompted GM to cease all operations in the country.
The automaker laid off its entire staff of employees — by text message at that — and paid out severance. That seemed to be the end of it all. Meanwhile, GM vowed to exercise its legal rights and fight back. Now, the tide seems to be shifting.
The Detroit Free Press reports GM may return to Venezuela after all of the commotions.
GM Chief Financial Officer Chuck Stevens seemed to execute an about-face surrounding the decision to leave Venezuela.
“We don’t necessarily want to exit the country, but certainly it’s not an environment that you can invest in or run a normal business at this point,” he said Friday in a conversation with reporters to discuss first quarter earnings.
GM hadn’t produced a car at the Valencia-based industrial hub since 2015.
Adding more curiosity to it all was Venezuelan Labor Minister Francisco Torrealba’s invitation to have GM claim the plant back.
“The Venezuelan state is supporting, and wants to see, production at General Motors return to its maximum level in the hands of its legitimate owners,” he said on state television. “The government is willing to provide all the guarantees so that General Motors normalizes its operations in Venezuela and produces lots of cars as it has for decades.”
Stay tuned as we continue to follow the latest from Venezuela.