GM seeks increased stake in China truck
Date:2008-11-12
General Motors Corp plans to raise its current 34 pct stake in SAIC GM Wuling Automobile Co, a Chinese joint venture making small vans and trucks, the Wall Street Journal reported.
The report said GM is in negotiations with southwestern China's Guangxi provincial government, which controls venture partner Liuzhou Wuling Motors Co, according to Hu Maoyuan, chairman of Shanghai Automotive Industry Corp.
SAIC holds 50.1 pct of the venture.
The report said GM plans to use the venture to support a push for more low-cost products to emerging markets.
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