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GM bankruptcy filing to have no impact on China business
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08:29, June 02, 2009

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The bankruptcy of General Motors Corp. in the United States will have no impact on GM's operation in China, GM China Group said Monday.

"Our operations across China will operate normally," said Kevin Wale, president and managing director of GM China Group.

"Our customers will continue to receive top-notch service and warranty coverage, while our dealers will continue to receive product and after-sales parts as usual," Wale said.

"There will be no impact on payments to employees, dealers or suppliers contracted to GM China or to our joint ventures."

In the largest industrial bankruptcy in U.S. history, General Motors Corp., the top U.S. automaker and once the world's largest corporation, filed for bankruptcy protection on Monday.

Hoping to reemerge from bankruptcy protection as a new, leaner company within 60 to 90 days, GM will close 11 U.S. factories and suspend operations at three others to slash operating costs. It has been looking to cut 21,000 factory jobs from the 54,000 workers it employs in the United States.

GM has eight joint ventures and almost 25,000 employees in China. Last year, GM's sales in China were 1.09 million units, continuing its lead in the market.

GM China emphasized that its business strategy in China and its plans for continued growth remain unchanged.

"GM has a specific development plan in China for the next five years that demonstrates our great confidence in the country," said Wale.

"China has been the largest vehicle market in the world in the first five months of 2009. Industry sales grew 18.8 percent from the same period last year," Wale said.

"Domestic sales by GM China and our joint ventures continue to be strong, rising 33.8 percent year on year in the first five months. We intend to remain an industry leader in China," he said.

Source: Xinhua



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