GM Ceases Operations In Venezuela

GM Ceases Operations In Venezuela

General Motors has ceased doing business in Venezuela after authorities seized its only factory in the country. GM has called this an illegal judicial seizure of its assets. while anti-government protesters fought with authorities, The plant was confiscated Wednesday. Venezuela is currently experiencing economic difficulties such as food shortages and triple-digit inflation. In a statement Thursday, GM said assets such as vehicles were removed from the factory, causing irreversible damage to the company.
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