GM, Chinese automaker extend joint venture for 20 years despite geopolitical tensions with U.S.

Skip NavigationMarketsPre-MarketsU.S. MarketsCurrenciesPrediction MarketsCryptocurrencyFutures & CommoditiesBondsFunds & ETFsBusinessEconomyFinanceHealth & ScienceMediaReal EstateEnergyClimateTransportationInvestigationsIndustrialsRetailWealthSportsLifeSmall BusinessInvestingPersonal FinanceFintechFinancial AdvisorsOptions ActionETF StreetBuffett ArchiveEarningsTrader TalkTechCybersecurityAIEnterpriseInternetMediaMobileSocial MediaCNBC Disruptor 50Tech GuidePolitics & PolicyWhite HousePolicyDefenseCongressExpanding OpportunityVideoLatest VideoFull EpisodesLivestreamLive AudioLive TV ScheduleCNBC PodcastsCEO InterviewsCNBC DocumentariesDigital OriginalsWatchlistInvesting ClubTrust PortfolioAnalysisTrade AlertsMeeting VideosHomestretchJim's ColumnsEducationSubscribePROPro NewsJosh BrownMike SantoliCalls of the DayMy PortfolioLivestreamFull EpisodesStock ScreenerMarket ForecastOptions InvestingChart InvestingSubscribeLivestreamMenuMake ItselectUSAINTLLivestreamSearch quotes, news & videosLivestreamWatchlistSIGN INCreate free accountMarketsBusinessInvestingTechPolitics & PolicyVideoWatchlistInvesting ClubPROLivestreamMenu (function() { const userMembershipOnLastVisit = localStorage.getItem("cnbcMeta__cachedUserMembership"); if (!userMembershipOnLastVisit) { // If no user membership is stored, user is likely not logged in. // These users will typically see the banner. return; } const { isPro, isInvestingClubUser } = JSON.parse(userMembershipOnLastVisit); if (!(isPro || isInvestingClubUser)) { // We’re rendering the top banner for users who are not pro or investing club members. return; } // Hide the banner for pro and investing club users. const style = document.createElement("style"); style.id = "top-banner-placeholder-style"; style.innerHTML = "[data-top-banner-placeholder] { display: none; }"; document.head.appendChild(style); })() AutosGM, Chinese automaker extend joint venture for 20 years despite geopolitical tensions with U.S.Published Tue, Aug 4 202610:30 PM EDTMichael Wayland@MikeWaylandWATCH LIVEKey PointsGeneral Motors and China's SAIC Motor have extended their joint venture by 20 years, to 2047.GM said the deal will focus on domestic sales of Buick and Cadillac models in China and exporting Chevrolet products built in China for non-U.S. markets.The extension comes as the auto industry in China is rapidly changing with the swift rise of domestic automakers and a shift away from traditional Western brands and legacy joint ventures.In this articleGMFollow your favorite stocksCREATE FREE ACCOUNTWorkers assemble cars at a car plant of SAIC-GM-Wuling in Qingdao city in east China's Shandong province, Feb. 5, 2025.ZHANG JINGANG | Future Publishing | Getty ImagesDETROIT — General Motors and China's SAIC Motor have extended a decadeslong Chinese joint venture that was set to end next year, the U.S. automaker said Tuesday night.The extension comes amid a rapidly changing automotive landscape in China that has included the swift rise of domestic automakers and a shift away from traditional Western brands and legacy joint ventures.GM declined to provide financial details of the extension, which comes amid heightened geopolitical tensions between the U.S. and China, including a potential stateside ban of Chinese brands and vehicles. The largest disclosed change in the dynamic of the agreement is its length. The initial deal established in 1997 was for 30 years, and now the companies have announced a 20-year extension of the 50-50 joint venture to 2047.GM noted that the deal will focus on refocus domestic sales of Buick and Cadillac models in China in addition to exporting products, including Chevrolet models, built in China for non-U.S. markets."We are committed to strong performance in the China market,