GM-China’s one percent controlling interest explained on Driving the Nation

Frankfurt, Germany – It’s been a concern since it happened. Why did General Motors sell the one percent controlling interest of GM-China to Shanghai Automotive (SAIC)?

Nick Reilly, who heads GM in Europe, used to work in GM-China. Reilly explained why GM-China sold the one percent controlling interest to SAIC. Reilly said that SAIC will allow GM-China to buy the one percent back. It is in the works.

Former securities analyst, Stephen Girsky is the Vice Chairman of General Motors in charge of corporate strategy and business development. Girsky answers the question from another journalist as to when the one percent controlling interest will be re-purchased by General Motors.

About the Author:

Lou Ann Hammond is the CEO of Carlist and Driving the Nation. She is the co-host of Real Wheels Washington Post carchat every Friday morning and is the Automotive, energy correspondent for The John Batchelor Show and a Contributor to Automotive Electronics magazine headquartered in Korea. Hammond is a member of the North American Car and Truck of the Year (NACTOY), Women's World Car of the Year (WWCOTY), and the Concept Car of the Year.