General Motors expects over $5 billion in non-cash charges and writedowns from restructuring its joint venture operations with SAIC Motor Corp. in China. The company anticipates writing down $2.6 billion to $2.

Volkswagen AG has extended its joint venture with SAIC by 10 years to 2040, a sign of the global carmakers' confidence in the world's largest vehicle market. The renewal of the SAIC Volkswagen partnership, which was finished last week, comes when the current contract still has six years to go.

GM reported a $347 million loss from these ventures between Jan. and Sept., compared with a $353 million profit during the same period in 2023.