GM rethinks emerging market strategy, hedges on China partner
Published on Jan 27, 2013 9:22 PM
DETROIT (REUTERS) - General Motors (GM) is reconsidering its emerging-market strategy, chief executive Dan Akerson said in remarks that could dent the international ambitions of its Chinese partner, SAIC Motor.
Top executives of the global automaker had begun indicating about three years ago that it would use SAIC, which produces affordable no-frills cars in joint ventures with GM, as its preferred partner to expand into emerging markets worldwide.
But in recent months, GM has been looking to also partner with France's PSA Peugeot Citroen, not only in Europe where the US automaker is trying to fix its troubled Opel unit but also in Russia and Latin America.
"Our first obligation to one another is to fix our European operations, and potential exists - and it's a real potential - for other areas where they operate and we operate too," Mr Akerson said in a recent interview in Detroit.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!