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China's SAIC Buys $500 Million Stake in General Motors

Nov. 18, 2010 | Fleet Owner

China's leading automaker SAIC Motor Corp confirmed on Nov. 18 that it had agreed to buy a stake in General Motors, as the auto giant prepared for one of the largest stock offerings in history. According to a report from IndustryWeek, SAIC said its decision to invest in GM was based on 'confidence in GM's development prospects

China's leading automaker SAIC Motor Corp confirmed on Nov. 18 that it had agreed to buy a stake in General Motors, as the auto giant prepared for one of the largest stock offerings in history. According to a report from IndustryWeek, SAIC said its decision to invest in GM was based on 'confidence in GM's development prospects.'

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