General Motors makes massive write-down on Chinese assets

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General Motors makes massive write-down on Chinese assets
Photo: AP/TT

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The American vehicle concern General Motors (GM) will, after several years of headwind, write down and take other costs related to the operations in China of more than five billion dollars (approximately 55 billion kronor).

Among other things, the value of partially owned companies in China will be written down by 2.9 billion dollars, according to documents submitted to authorities in the USA.

Factory closures and restructurings in China will, in addition, cost 2.7 billion dollars.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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