GM Taking More Than $5B Hit on Joint Venture in China

Key TakeawaysGeneral Motors said in a regulatory filing that it will incur more than $5 billion in non-cash charges and write-downs associated with its joint venture with SAIC Motor Corporation in China.The carmaker said it expects impairment costs of$2.6 billion to $2.9 billion, and$2.7 billion in equity losses related to the JV this year.GM has lost money in China over the past three quarters, including $137 million in the third quarter. General Motors (GM) shares slipped Wednesday after the carmaker sa ...