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GM says China businesses to remain unchanged

Published: 01 Jun 2009 22:25:45 PST

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Jun. 2, 2009 (China Knowledge) - General Motors Corp (GM) on Monday said that its businesses in China will not be affected by its U.S. bankruptcy filing and that its business strategy in the country remains unchanged, the Shanghai Daily reported.

GM yesterday filed for bankruptcy, becoming the third largest company in U.S. history to do so and the largest ever in U.S. manufacturing.

The automaker's business in China will operate normally, said Kevin Wale, president and managing director of the GM China Group, adding that there will be no impact on payments to employees, dealers or suppliers contracted to GM China or to its joint ventures in the country.

In addition, the automaker will not change its planned investments or major projects.

GM Asia-Pacific will also maintain normal business operations, said Steve Carlisle, president of General Motors' Southeast Asia operations.

In fact, none of GM's operations outside the U.S. are included in the court filing, he added.

GM earlier said its China sales hit a monthly record of 151.084 units in April, up 50% year on year from a year earlier. The company expects to double its China sales to 2 million units over the next five years as it continues to expand its offerings and production capacity.

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