GM, partner to secure fourth China car output base

Newswire

SHANGHAI, Feb 26 (Reuters) - General Motors Corp , the world's largest auto maker, and main Chinese partner Shanghai Automotive Industry Corp have signed an agreement to set up their fourth car production base in the country, GM said on Thursday. GM, Shanghai Auto and their existing 50-50 venture Shanghai GM will buy out a 50 percent stake held by four other Chinese firms in the troubled Jinbei GM plant in the northeastern city of Shenyang. Financial terms were not disclosed. GM now owns ...

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