Shanghai Automotive Industry Corp (SAIC), General Motors' main joint venture partner in China, has sold its 20% stake in Chinese car manufacturer Chery, which is being investigated for pirating one of General Motors' car designs. Shanghai Automotive Industry Corp has most likely sold its 20% stake in the company as a means of distancing itself from the controversy. SAIC should be keen to maintain smooth partner relations with GM, which is one of the largest foreign investors in China.
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