GM signs deal for fourth auto plant in China


SHANGHAI, Dec 20 (Reuters) - General Motors Corp signed an agreement on Friday to invest in a 900 million yuan ($109 million) auto plant in eastern China, the U.S. auto giant's fourth in the world's fastest growing car market. GM said in a statement it would own 25 percent of Yantai Bodyshop Corp, longtime Chinese partner Shanghai Automotive Industry (Group) Corp would own 25 percent, and their 50-50 joint venture -- Shanghai GM -- would take the remainder. Shanghai GM would move ...

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