General Motors will form a joint venture with Yulon Motor Co. to sell cars in Taiwan and will subcontract manufacturing of its Buick sedans to the Taiwan company, Yulon told Reuters.
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The two auto makers reportedly have signed a memorandum on forming a joint venture company, but details, such as the investment amount and shareholding structure, have not been finalised. Yulon President Chen Kuo-jung told the news agency the partners hope to have a concrete plan for the venture by the Lunar New Year in February.
“The only thing we can be sure of is that the new company will entrust Yulon to manufacture the Buick series of cars for the Taiwan domestic market,” Chen told Reuters.
