GM Korea to foot the bill for Chevrolet brand's pullout from Europe
Mar 12, 2014
GM Korea Co, the South Korean unit of U.S. automotive giant General Motors Co., is expected to foot the bill for the pullout of the Chevrolet brand from Europe, a corporate source said Wednesday. The confirmation comes after General Motors International Operations (GMIO), which controls the South Korean company, recently said it set aside $621 million needed to discontinue sales of Chevrolet-badged cars in Europe and halt operations of local sales companies. "GM Korea supplies 90 percent of