Jinbei GM
4
General Motors had another joint venture in China which started operations in 1999 with a total investment of US$230 million - with Jinbei Automobile. The factory was located in Shenyang in Northeast China's Liaoning Province and produced Chevrolet Blazer sport utility vehicles and S-10 pickup trucks.
After initial success Jinbei GM reported net loss totalled 954.8 million yuan (US$115 million) in the first half of year 2004 due to sluggish sales. The company halted production of Chevrolet vehicles and pick-up in March that year.
Jinbei Automobile sold all of its stake to the Shanghai Automotive Industry Corp (SAIC), GM's major Chinese joint venture partner, after this was approved by the Chinese government. Jinbei GM's operations were integrated into the joint venture between SAIC and GM. Shanghai GM transfered production of the Buick GL8 MPV to former Jinbei GM, which had been renamed Shanghai GM (Shenyang) Norsom Motors Co. Ltd. Shanghai GM holds a 50 percent stake and oversees management. GM China and SAIC each hold 25 percent stakes in the facility. The joint venture has an annual capacity of 50,000 vehicles.
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After initial success Jinbei GM reported net loss totalled 954.8 million yuan (US$115 million) in the first half of year 2004 due to sluggish sales. The company halted production of Chevrolet vehicles and pick-up in March that year.
Jinbei Automobile sold all of its stake to the Shanghai Automotive Industry Corp (SAIC), GM's major Chinese joint venture partner, after this was approved by the Chinese government. Jinbei GM's operations were integrated into the joint venture between SAIC and GM. Shanghai GM transfered production of the Buick GL8 MPV to former Jinbei GM, which had been renamed Shanghai GM (Shenyang) Norsom Motors Co. Ltd. Shanghai GM holds a 50 percent stake and oversees management. GM China and SAIC each hold 25 percent stakes in the facility. The joint venture has an annual capacity of 50,000 vehicles.
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