SAIC sheds most of its share in GM India joint venture
By Han Tianyang | China Daily | Updated: 2012-10-29 07:28
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The New Sail developed at Shanghai GM is among the models assembled in India. Chu Yang / Xinhua |
Shanghai-based SAIC Motor Corp recently decreased its stake in an equal partnership with General Motors in India to only 7 percent after the venture failed to be profitable for three consecutive years.
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