7 Dec 2009

GM gives higher stake to domestic partner

1:22 pm on 7 December 2009

General Motors is giving its partner in a Chinese venture an extra 1% stake in the business.

GM and Shanghai General Motors previously shared control of the operation.

Now the domestic player will have the larger hand, giving GM much needed cash.

The move co-incides with a push by both companies into India, with the aim to produce vehicles there.