NEW YORK: General Motors Co said it would wind down its Australian and New Zealand operations and sell a Thai plant in the latest restructuring of its global business, costing the United States auto maker US$1.1bil.
The moves will accelerate GM’s retreat from unprofitable markets, making it more dependent on the US, China, Latin America and South Korea, and give up an opening to expand in South-East Asia.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!