GM Gains Stake In Chinese SAIC Partnership, Now Split 50-50
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A new business deal between General Motors and its main Chinese joint-venture partner Shanghai Automotive Industry Corporation (SAIC) has given both companies an even 50-50 split going forward.
In early 2010, SAIC became the majority owner, at 51 percent after the Chinese company payed The General $84.5 million, helping GM secure a $400 million line of credit in the process.
Specifics of the deal to return the stakeholders to a 50-50 split have yet to be discussed, but this is probably due to the fact that final approval is still pending by the Chinese government.
As a side note, SAIC has a very similar deal with Volkswagen in China called Shanghai VW; the joint venture’s sales numbers are eerily creeping up to the levels seen by Shanghai GM.
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Dislike,any dealings with the Commies (even if reality says everything MIC) makes me sick.
Why? Dealing with the Chinese makes you sick? Really? Have they hurt you in any way directly? They actually have raised every Americans standard of living by enabling us to buy things many of us would otherwise be unable to afford.
I would never want to live in a communist country, but I respect other peoples right to govern themselves any way they want, communism is another way of life just like Capitalism is here, if it works for them, who are we to argue?
And even if you dont like them , you better get used to them, the Chinese have been here for thousands of years and have been communist for most of their history, so there not going anywhere.
is there anything the Chinese don’t have their fingers in . don’t like buying chinese made anything.
Well thats too bad, because virtually 100% of the things you buy are either made in china or have some part or component, as small as it may be, made in china. The only exception are your clothes, but there still made in Aisa.
Everythings made in China , Get Over it.
Maybe a hotdog.
The Mustard and Ketchup bottle and meat packaging were made in China.
No, I meant just a hot dog. Like a maniac who would BBQ’d a pug.
It doesn’t help that the pug is a breed from China.
My rice is from California.