GM, Chinese automaker extend joint venture for 20 years despite geopolitical tensions with U.S.

DETROIT — General Motors and China's SAIC Motor have extended a decadeslong Chinese joint venture that was set to end next year, the U.S. automaker said Tuesday night. GM declined to provide financial details of the extension, which comes amid heightened geopolitical tensions between the U.S. and China, including a potential stateside ban of Chinese brands and vehicles. The initial deal established in 1997 was for 30 years, and now the companies have announced a 20-year extension of the 50-50 joint venture to 2047. The deal also extends a partnership with GM, SAIC and Guangxi Automobile Group, including its Wuling subsidiary, according to a GM spokesman. "We are committed to strong performance in the China market, and we see meaningful opportunities to compete in select international markets: the Middle East, Africa, South America, Mexico and Asia-Pacific," GM China President John Roth said in a release.