General Motors Closes Shenyang Plant in China amid Restructuring
General Motors (GM) is closing a plant in Shenyang, China, as part of its ongoing restructuring efforts in the country. The plant produces Buick GL8 minivans and Chevrolet Tracker SUVs for the Chinese market.
GM's restructuring in China aims to address the dominance of domestic manufacturers backed by government subsidies. In the fourth quarter of 2022, GM recorded $4 billion in restructuring charges in China, including plant closures.
GM CEO Mary Barra stated that the automaker's future in China will prioritize its premium brands, including Cadillac and Buick, as well as its import business. Barra highlighted the desirability of these vehicles among Chinese consumers.
GM has a partnership with SAIC Motors for the production of Buick, Chevrolet, and Cadillac vehicles in China.