As the US automotive financial crisis continues, and the US government debates whether to bail out GM and the other automakers, foreign governments are apparently developing their own plans.
Just reported in a leading Chinese newspaper is a report that Chinese automakers SAIC and Donfeng have developed internal plans to buy GM and Chrysler assets.
Considering GM's very low current market cap of less than $2 billion, if they are willing to accept the debt, such an acquisition would be easy for China's government-owned automakers.
Since the Chinese automotive market has the greatest global growth potential and Chinese automakers have been looking for ways to achieve international leverage, this could be a quick solution for them.
Will our Volts be made in China? It may be up to our government to decide.
Source ( The Truth About Cars )
Thanks to Dave M. for the tip.