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Gunsan plant, General Motors, South Korea

GM Korea needs to survive in long-term, says South Korea minister

Tuesday, 17 April 2018 by admin

South Korea’s finance minister stated on Monday that public funds could only be utilize to favor the South Korean auto unit of General Motors if it was obvious that the business could survive on its own long-term. Discussing with reporters following a policy meeting in Seoul, Kim Dong-yeon stated major shareholders and other parties involved

  • Published in General Motors
Tagged under: General Motors, General Motors in South Korea, Gunsan plant, Kim Dong-yeon
Gunsan plant, General Motors, South Korea

General Motors sticks to April 20 deadline for South Korea restructuring

Saturday, 14 April 2018 by admin

General Motors’ president stated common ground must be reached on a long-term financial restructuring of the automaker’s South Korean auto unit by next Friday and if there has been none, the operation would likely look forward to bankruptcy protection. The automaker shocked the country in February with strategies to close one local plant and leaving

  • Published in General Motors
Tagged under: Dan Ammann, General Motors, Korea Development Bank (KDB), Lee Dong-geol
General Motors

South Korea prompts General Motors union to reach wage deal

Monday, 09 April 2018 by admin

South Korea on Friday prompted General Motors’s local subsidiary and labor union to gain a wage deal swiftly, adding the government will be able to talk about support for the money-losing unit on condition of an agreement. General Motors, which in February declared it would shut one of its South Korean factories, stated it will

  • Published in General Motors
Tagged under: General Motors, Gunsan plant, Paik Un-gyu, south korea, TV Chosun, wage deal
Gunsan plant, General Motors, South Korea

South Korea declares industrial crisis in Gunsan, where GM factory is closing

Monday, 09 April 2018 by admin

South Korea has designated the city of Gunsan an ‘industrial crisis zone’, extending its support for the area after plans by General Motors to close a plant as well as the shut down of a shipyard last year. The new designation gives broader financial support to employees and businesses, and is one notch above its

  • Published in General Motors
Tagged under: General Motors, Gunsan plant, south korea
Chevrolet Sonic

General Motors to stop producing Chevrolet Sonic Subcompact car

Thursday, 05 April 2018 by admin

General Motors is going to stop producing its subcompact Chevrolet Sonic by as early 2019, the Wall Street Journal reported, mentioning people knowledgeable about the matter. While GM is also preparing to discontinue Chevrolet Impala in upcoming years, Ford Motor is also going to stop making the Fiesta small car for the U.S. market by

  • Published in Chevrolet, General Motors
Tagged under: Chevrolet Sonic, Chevrolet Sonic Subcompact car, General Motors in US, Subcompact car
general motors

General Motors to stop monthly U.S. vehicle sales reports

Tuesday, 03 April 2018 by admin

General Motors stated on Tuesday it will stop reporting every month about U.S. vehicle sales, adding the 30-day snapshot does not accurately show the market and the company will, instead, issue quarterly sales reports. The automaker will also no longer report monthly sales in China and Brazil. The company will provide monthly data to the

  • Published in General Motors
Tagged under: car sales in 2018, General Motors sales 2018, Jeff Schuster, LMC Automotive, Mark Laneve
General Motors

General Motors Korea sales dive, plans to postpone one shift in Bupyeong

Tuesday, 03 April 2018 by admin

General Motors’s South Korean unit has proposed postponing one of two shifts at a plant close to Seoul, an internal union newsletter observed by Reuters showed, boosting uncertainty about the fate of the factory as the U.S. automaker grapples with falling sales. GM Korea stated on Monday its domestic sales for March more than halved

  • Published in General Motors
Tagged under: Bupyeong plant, General Motors, GM Korea, Gunsan factory
General Motors

GM’s South Korean unit to file for bankruptcy if no union agree with cost cut

Tuesday, 27 March 2018 by admin

General Motors stated its loss-making South Korean unit will file for bankruptcy if its union did not agree to cut labor costs by April 20, piling pressure on workers and the South Korean government to quickly agree a rescue plan. The automaker stated in February it would close one of its four plants in South

  • Published in General Motors
Tagged under: Barry Engle, General Motors, General Motors in South Korea
Gunsan plant, General Motors, South Korea

General Motors factory worker in South Korea commits suicide

Monday, 26 March 2018 by admin

A 47-year-old worker at a South Korean plant of General Motors was found dead in a suspected suicide after submitting for a voluntary redundancy program of the U.S. automaker’s ailing unit, union officials and police stated on Sunday. Automaker plans to close its Gunsan plant by May and nearly 2,500 workers, or about 15 percent

  • Published in General Motors
Tagged under: General Motors, General Motors in South Korea, Gunsan plant, south korea
Mary Barra

GM CEO Mary Barra meets with U.S. regulators on fuel efficiency rules

Wednesday, 14 March 2018 by admin

General Motors chairman and CEO Mary Barra met on Tuesday with U.S. regulative chiefs, weeks before the Trump administration prepares to decide whether to modify landmark fuel effectiveness requirements through 2025. After Reuters found out about the meetings, GM representative Pat Morrissey confirmed Barra had met the heads of the Environmental Protection Agency (EPA) and

  • Published in General Motors
Tagged under: Environmental Protection Agency (EPA), General Motors, Mary Barra, zero emissions
General Motors

General Motors president says ‘shared sacrifice’ needed to fix South Korean operations

Wednesday, 14 March 2018 by admin

General Motors President Dan Ammann stated on Monday the automaker’s troubled South Korean operations can be a “sustainable, successful business,” if unions and the South Korean government concur soon on a restructuring. GM has cautioned Korean officials the unit deals with a “cash crisis” in the first quarter without new financing. Almost 2 trillion won

  • Published in General Motors
Tagged under: Dan Ammann, General Motors, General Motors in South Korea
General Motors

General Motors confirms details of investment in South Korea business

Tuesday, 13 March 2018 by admin

General Motors confirmed information about a proposed investment in its loss-making South Korean company on Friday, however stated it went through support from Seoul and GM’s Korean union. GM Korea stated that without new financing from its significant investors it would have a first quarter “cash crisis”. Barry Engle, President of GM International, stated in

  • Published in General Motors
Tagged under: Barry Engle, General Motors, General Motors in South Korea
Chevrolet Bolts electrical vehicle

GM prepares to expand Bolt EV output, seeks Congress help

Sunday, 11 March 2018 by admin

General Motors CEO Mary Barra contacted the United States Congress on Wednesday to expand a customer tax credit for electric vehicles as the automaker stated it would increase production of its EV Chevrolet Bolt in reaction to positive response. Barra also got in touch with U.S. regulators to consider when scoring automakers’ emissions the capacity

  • Published in General Motors
Tagged under: Chevrolet Bolt EV, electric vehicles, General Motors electric cars, Mary Barra
General Motors

General Motors proposes $2.8 billion investment in South Korea

Thursday, 22 February 2018 by admin

General Motors has proposed an investment of $2.8 billion into its loss-making South Korean operations over the next 10 years and has asked Seoul to offer its share of the funds, a South Korean government official stated on Wednesday. The United States automaker revealed last week it would close down a factory in Gunsan, southwest

  • Published in General Motors
Tagged under: General Motors in South Korea, Korea Development Bank (KDB), Paik Un-gyu, SAIC Motor
General Motors

Union to strike if General Motors plans complete South Korea exit

Thursday, 22 February 2018 by admin

General Motors’ South Korean workers will go on a full strike if the automaker chooses to entirely pull out of the country, its union head informed Reuters on Wednesday, adding he does not eliminate the possibility GM may leave. In the meantime, the 14,000-member union will focus on putting pressure on the automaker to come

  • Published in General Motors
Tagged under: General Motors in South Korea, Lim Han-taek
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