World News

Great Wall says to buy GM’s Thailand car plant

BEIJING (Reuters) – China’s Great Wall Motor <601633.SS> said on Monday it had signed a binding agreement to purchase a car plant from General Motors <GM.N> in Thailand.

Great Wall said in a statement it expects to complete transaction of Rayong car plant, which is currently operated by GM, by the end of 2020.

GM said on Monday it was rearranging global operations.

(Reporting by Yilei Sun and Brenda Goh; Editing by Himani Sarkar)