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GM faces unexpected bills as India-China tensions delay sale of India plant

Added 09-17-20 02:04:02am EST - “GM has not changed its plan to begin winding down the plant's operations next month” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “GM faces unexpected bills as India-China tensions delay sale of India plant”. Below is an excerpt from the article.

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Delays to General Motors' sale of its Indian plant to Great Wall Motor due to tensions between India and China are likely to result in hefty unplanned costs for the U.S. automaker, people familiar with the matter said.

Gaining Indian government approval for China-related deals is now expected to take quite some time and although the sale should still happen at some point, GM has not changed its plan to begin winding down the plant's operations next month, they said.

"By next year, it will either be a closed GM site or it will be an operating site with Great Wall," said one source.

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