{"id":49243,"date":"2024-12-04T21:54:17","date_gmt":"2024-12-04T21:54:17","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/general-motors-restructuring-operations-in-china-may-cause-more-than-5b-in-losses"},"modified":"2024-12-04T22:03:53","modified_gmt":"2024-12-04T22:03:53","slug":"general-motors-restructuring-operations-in-china-may-cause-more-than-5b-in-losses","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/general-motors-restructuring-operations-in-china-may-cause-more-than-5b-in-losses","title":{"rendered":"General Motors&#8217; restructuring operations in China may cause more than $5B in losses"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Lesotho. <\/strong><\/span>General Motors (GM) restructuring operations in China are expected to cause losses of more than $5 billion, the company said Wednesday.<\/p>\n<p>The US automaker\u2019s notification to the US Securities and Exchange Commission (SEC) said GM is in the process of evaluating the effect of restructuring steps of a joint venture with SAIC Motor in China.<\/p>\n<p>It is estimated that the company&#8217;s equity interest in the venture will record a non-permanent decrease in value in the range of $2.6-2.9 billion.<\/p>\n<p>And an additional loss of approximately $2.7 billion is expected to arise from plant closures and portfolio adjustments within the scope of the restructuring plan of the joint venture.<\/p>\n<p>GM reported a loss of $347 million for its Chinese operations in the first nine months of 2024.<\/p>\n<p>The automaker&#8217;s market share in China fell from about 15% in 2015 to 8.6% last year.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Lesotho<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Lesotho. General Motors (GM) restructuring operations in China are expected to cause losses of more than $5 billion, the company said Wednesday. The US automaker\u2019s notification to the US Securities and Exchange Commission (SEC) said GM is in the process of evaluating the effect of restructuring steps of a joint venture with SAIC [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":49242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[171,4853,245],"class_list":["post-49243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-china","tag-gm","tag-lesotho"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>General Motors&#039; restructuring operations in China may cause more than $5B in losses - Lesotho<\/title>\n<meta name=\"description\" content=\"General Motors (GM) restructuring operations in China are expected to cause losses of more than $5 billion, the company ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/general-motors-restructuring-operations-in-china-may-cause-more-than-5b-in-losses\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Motors&#039; 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