GM plans to pull out of Australia, New Zealand and Thailand
General Motors' decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments raised dismay Monday from officials concerned over job losses.
The company said in a statement Sunday that it plans to wind down sales, engineering and design operations for its historic Holden brand in Australia and New Zealand in 2021. It also plans to sell its Rayong factory in Thailand to China's Great Wall Motors and withdraw the Chevrolet brand from Thailand by the end of this year.
Read More: https://www.msn.com/en-us/news/us/gm-plans-to-pull-out-of-australia-new-zealand-and-thailand/ar-BB104jv7GM has 828 employees in Australia and New Zealand and another 1,500 in Thailand, the company said.
In Thailand, the decision to sell GM's plant in Rayong, south of Bangkok, may well end up being good news for workers there.
Great Wall Motors, a major maker of sport utility vehicles and pickups, said it intends to expand in Southeast Asia using the plant in Thailand as its base.