General Motors says it is pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments. 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. GM has 828 employees in Australia and New Zealand and another 1,500 in Thailand, the company said. Chief Executive, Mary Barra, says the company wants to focus on markets where it can drive strong returns. The company said it will scale back operations in all three countries to selling niche specialty vehicles.

Source: The Standard February 17, 2020 04:17 UTC