After Receiving Bailout, GM May Move Volt Production to China

[Blue Goose]

After Receiving Bailout, GM May Move Volt Production to China

Although it happened back in September, 2011, it appears many American taxpayers are unaware that General Motors struck a deal in Shanghai wherein the company has agreed to develop an electric vehicle (EV) platform with its longtime Chinese partner SAIC.

What else was included in this deal? GM has agreed to effectively move all future EV development to China. It could also mean that production of the vehicle itself will be moved overseas.

The agreement is the result of the Chinese government coercing foreign automakers into giving Chinese companies the EV technology they lack, according to an Associated Press report. Unsurprisingly, some U.S. lawmakers have voiced concerns that the deal is little more than a “shake down” from the Chinese to get GM’s Volt secrets. GM has denied reports that it will hand over the intellectual property underlying the Volt.

GM Vice Chairman Steve Girsky, in a conference call from Shanghai, said that neither SAIC nor the Chinese government have demanded Volt technology but that any future EV developments would, of course, draw on GM’s Volt “experience and technology,” according to a USA Today report first published in September, 2011.

 

[5.0Flareside]

are you freaking kidding me?????

 

[m78]

So now they're taking the American tax payer bail out money over seas !

 

[5.0Flareside]

So now they're taking the American tax payer bail out money over seas !

PRETTY MUCH!!

 

[smokey]

Well in all due respect the money came from China anyway. Just moving the collateral back to the lender.

 

[5.0Flareside]

Well in all due respect the money came from China anyway. Just moving the collateral back to the lender.

very true... tax dollars don't even fund the gov't really half-assed... we're in so much debt to china it aint funny...

but this is why china is loaning us all this money... to push us to do anything we can to pay em back....

 

[73F100Shortbed]

Another reason to let GM fall on its face.

 

[DNFXDLI]

And this comes as a surprise how?...remember they advertise calling themselves Professional Grade..they just didn't complete the slogan with "Shysters"

 

[62unibodymatt]

Soooo, moving development of a vehicle from the U.S. to another country will create more jobs here, right? I dont see how GM is helping the horrible economy in any way

 

[polarbear]

Well in all due respect the money came from China anyway. Just moving the collateral back to the lender.

 

[polarbear]

And this comes as a surprise how?...remember they advertise calling themselves Professional Grade..they just didn't complete the slogan with "Shysters"

"Professional grade" is just trucks. That's GMC, not the mothership GM.

 

[DNFXDLI]

Same ****, different division

 

[polarbear]

Same ****, different division

No, GMC, like the other divisions, design, build, and sell cars and trucks. All other brilliant decisions come from the bean counters in Corporate. This is kind of humorous in a way- GM refused to sell Saab to the Chinese because they feared some proprietary technology would get into their hands. (Saab had proprietary technology... who knew?) But they'll give them the Volt.

 

[O'Rattlecan]

GMC is just a Sh*%@ty with all the bolts tight.

Ryan

 

[DNFXDLI]

Fixed for you...

No, GMC, like the other divisions also sucked my tax dollars up