General Motors’ European unit Opel is talking with Shanghai Automotive Industry Corporation (SAIC), one of its parent company’s joint venture partners in China, about sales cooperation.
The talks are concrete, but have not yet reached a conclusion, Reuters reported, citing German daily newspaper Handelsblatt.
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An Opel spokesman declined to comment on the Handelsblatt report, saying only that it was known that Opel wanted to take advantage of export opportunities and that China was an interesting market.
Opel is currently setting up distribution networks in Australia and New Zealand – independent of local GM Holden units – as part of a recent move for more independence from the parent company in order to grow overseas.
An Opel labour representative said last September that GM should offer shares in Opel to SAIC, Reuters noted.
The news agency reported earlier this month that GM was in talks over a cost-cutting deal as it seeks to return the unit to profitability.
