General Motors is closing its plant

General Motors is closing its plant in Shenyang, northeastern China, this month, according to Reuters. The move is part of the company’s business restructuring in China.

The plant produced Buick GL8 minivans and Chevrolet Tracker SUVs for the Chinese market. A source confirming the plant closure declined to be identified.

GM is restructuring its operations as the Chinese market has been overtaken by domestic automakers supported by government subsidies. In the last quarter, the Detroit-based company estimated restructuring costs in China at $4 billion, including factory closures.

At an automotive conference in New York last week, GM CEO Mary Barra stated that the company’s future in China will focus on Cadillac, Buick, and premium import vehicles.

“These are cars that are in high demand among certain Chinese consumers, and we can import them to run a very successful business,” Barra said.

GM collaborates with SAIC Motors to manufacture Buick, Chevrolet, and Cadillac vehicles in China. Follow “Zamin” news on “Telegram”