, Columnist
GM Is on a Road to Nowhere in China
The US company’s cars look old and outdated, especially in a market where half of sales are now EVs.
GM is losing its grip in China.
Photographer: Qilai Shen/Bloomberg
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Getting a stay of execution doesn’t mean you’re no longer on death row.
That’s the situation that General Motors Co.’s Chinese joint venture finds itself in. The company announced Wednesday it was going to write as much as $5.6 billion off the value of the business. What’s left is going to struggle to limp past the renewal of GM’s 30-year contract with its main partner SAIC Motor Corp. in 2027.