Skip to comments.General Motors Facing Setbacks In Sale Of India Plant To China’s Great Wall Motor
Posted on 09/17/2020 10:08:09 AM PDT by BeauBo
According to Reuters, it is unlikely that General Motors will gain approval from the Indian government to sell the plant to Chinas Great Wall Motor at this time due to various political conflicts between the two countries. India has enacted new rules aimed at preventing Chinese companies from buying struggling Indian companies for cheap amid the COVID-19 pandemic, which could delay the approval process for the sale. Additionally, an ongoing conflict along the Sino-Indian border has led to further restrictions on Chinese investments in the country.
(Excerpt) Read more at gmauthority.com ...
This incident with GM's long term investments in India, and many others, seem to indicate that this has been the effect.
The Obama Administration took the unusual step of violating order for relief in the GM bankruptcy. Those who should have been paid first were forced to forfeit their rightful share of the assets, so that a controlling interest in the company could be turned over to the Union (a Leftist, Democratic Party appendage).
Ever since, GM has has pretty consistently made major investments and turned over technology right in line with communist Chinese plans for building up their auto industry, at the expense of the USA and others.
In this case, GM used its expertise and American influence to establish state of the art facilities in a major global market, just in time to hand the keys over to China's designated "National Champion" for the auto industry, as they scaled up for that expansion. Another convenient coincidence, that took years of preparation, and major deliberate investments of US capital.
India is currently in the throes of trying to economically de-couple from communist China, after China's recent bloody border incursion in the North, so they are blocking this deal (and blocking out Chinese investments across the board).
Like the Chinese communist Party member (Ben Meng) who was put in charge of California's CALPERS Retirement fund, GM's apparent collusion with the Chinese communists, highlights communist infiltration into the boardrooms of US corporations, with and under the auspices of Democratic Party apparatchiks.
Didn’t the Fed purchase GMAC?
No, Obama gave it to the unions.
I haven’t bought a GM product since my 1998 K2500 Cheyenne. GM’s quality has gone so far downhill in the last few years that I’d never touch another of their products.
We bought a chevy HHR 2011 model brand new.
It has performed flawlessly. After 60,000 miles and 9 years, only item replaced so far is tires. The 9 year old battery still works good. Never needed a single repair of any sort.
225K on the Jetta and so far, 115K on the Passat.
Only expenses so far... fuel and oil changes.
“Didnt the Fed purchase GMAC?”
US taxpayers bailed out GM when they were at the point of abject bankruptcy, and should be the owners, IMHO!
Good job with those cars. Main reason I buy Chevy’s is I never had a engine or transmission problem since 1967. And they are much cheaper to buy than BMW/Mercedes etc.
I switched from a 1978 VW Scirocco to multiple 3 series BMW's to present. ALL BMW's drive over 200k. The VW was great but the body rusted and the engine tired.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.