General Motors Corp. and China’s SAIC-Wuling Automotive Co. Ltd. are setting up a joint venture in China by June to produce minivans and mini-trucks, GM confirms. GM says the JV is a good opportunity for the auto maker to get into the lucrative production of minivehicles in China. China’s minivehicle market has an annual volume of 541,000 units, GM says. Sources say investment in the JV is $100 million and SAIC-Wuling will hold the majority stake of 66% with GM owning a 34% share. ...
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