General Motors (GM) announced that its restructuring efforts in China could result in losses exceeding $5 billion. The company informed the US Securities and Exchange Commission (SEC) that it is assessing the impact of restructuring its joint venture with SAIC Motor in China. GM expects a non-permanent decline in the venture’s equity value of between $2.6 billion and $2.9 billion. Additionally, plant closures and portfolio adjustments could lead to further losses of around $2.7 billion. GM reported a $347 million loss for its Chinese operations in the first nine months of 2024, with its market share in China dropping from 15% in 2015 to 8.6% last year.
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