Bloomberg reported on Wednesday, citing unnamed people familiar with the matter, that the two automakers are exploring elements of a potential agreement, including which vehicle models and plants would be involved if a deal is reached.
General Motors (GM) is reportedly in preliminary talks to renew its joint venture with China’s SAIC Motor Corp.
Bloomberg reported on Wednesday, citing unnamed people familiar with the matter, that the two automakers are exploring elements of a potential agreement, including which vehicle models and plants would be involved if a deal is reached.
The report noted that the talks are in an early stage and the final terms have not been determined yet. GM and SAIC’s partnership dates back 30 years. GM stock rose 1% at the time of writing.
On Stocktwits, retail sentiment around GM stock fell from ‘neutral’ to ‘bearish’ territory over the past 24 hours, while message volume stayed at ‘normal’ levels.
In July, GM announced that the company and its joint ventures in China had posted the largest quarterly sales surge in four years during the second quarter (Q2). Deliveries exceeded 447,000 units, marking GM’s second consecutive quarter of year-over-year sales growth in China with a 20% increase. Cumulative sales in the first half of 2025 exceeded 890,000 units, up 9.4% from a year earlier.
“We remain committed to driving profitable growth for China business by focusing on strong execution, business agility and customer choices,” Steve Hill, president of GM China, said in July.
However, domestic players, including EV maker BYD, have been taking greater control of the Chinese auto market. Companies have also been cutting prices in a bid to retain market share.
In 2024, GM incurred equity loss of $4.4 billion from its China JVs. In addition to a venture with SAIC, GM has a second venture with SAIC and Wuling Motors Holdings.
GM stock is up by 10% this year and about 24% over the past 12 months.
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