GM plans to invest $2.8 billion over the next 10 years in its loss-making operations in South Korea, and has asked Seoul to provide financial resources for investment. The US automaker announced last week that it would close a factory in Gunsan, southwest of Seoul, and said it was considering the fate of its three remaining plants in South Korea.<\/p>\n
The investment proposal is added to a GM offer of more than $2.2 billion to swap equity debt for financial support and tax benefits from Seoul. GM has asked South Korea to inject funds into GM Korea through the state-run Korea Development Bank (KADB), which holds 17% of the unit.<\/p>\n
Daimler and its Chinese partner Pike are planning to invest about $2 billion in a state-of-the-art factory in China to boost their relationship with Jelly, a sudden blow to the German automaker. Pike said that the two companies would invest $ 1.88 billion in upgrading a Mercedes-Benz plant, including electric cars. The chairman of the Chinese auto industry Jelly said he had bought a 10% stake in Germany\u2019s Daimler, in a $9 billion bet on the possibility of access to Mercedes-Benz’s proprietary technology. The move is a challenge for Daimler as the company and its Chinese partner Pike Motor have an industrial alliance to develop cars and trucks with Renault-Nissan, which holds a 3.1% stake in Daimler.<\/p>\n
The move means China’s largest private car maker is now Daimler’s biggest shareholder. Geely said it was seeking to form an alliance with Daimler, which is developing electric and self-driving cars in the face of competition challenges with others such as Tesla, Google and Uber.<\/p>\n
Comcast, the largest US cable television operator, declared it was offering Sky for $31 billion, defying Fox Media Corp’s Rupert Murdoch to acquire the European pay-TV group. Fox has already agreed on a deal to buy the 61% stake it does not already own in Sky.<\/p>\n
\n","protected":false},"excerpt":{"rendered":"
GM plans to invest $2.8 billion over the next 10 years in its loss-making operations in South Korea, and has asked Seoul to provide financial resources for investment. The US automaker announced last week that […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[63],"tags":[66,14,22,10,47,23,46,39],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/414"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=414"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/414\/revisions"}],"predecessor-version":[{"id":416,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/414\/revisions\/416"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/415"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}