General Motors Co. confirms it is forming a joint venture with China FAW Group to produce and sell new light-commercial vehicles, for a combined investment of RMB2 million ($293 million). Called FAW-GM Light Duty Commercial Vehicle Co. Ltd., the 50/50 JV will produce light-duty pickups and vans for the domestic market. The new company will be based in the northeastern city of Changchun, Jilin province. Nick Reilly, executive vice president and president-GM International Operations, told ...
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