General Motors is to increase its investment in a Chinese commercial vehicle joint venture, according to local media reports.
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GM is in talks with the parent of Shanghai-based SAIC Motor Corp to raise its stake in SAIC-GM-Wuling, a three-way tie-up between GM, SAIC and Liuzhou Wuling Automobile, the Shanghai Securities News, citing unnamed sources, said, according to Reuters.
SAIC-GM-Wuling is a major maker of minivans and light commercial vehicles.
Officials at GM in Shanghai and SAIC declined to comment to the news agency.
The report said GM now holds 34% of the venture, SAIC holds a 50.1% stake and Liuzhou Wuling, based in the southwestern region of Guangxi, has the remaining 15.9%.
