American auto maker giant General Motors Corp. has received a letter of interest from Beijing Automotive Industry Holding, expressing its interest in acquiring GM's German Adam Opel GmbH. However, GM will not pursue the offer, according to some sources.
The governments of Canada and Ontario may contribute around C$13 billion (US$11.6 billion) in bailout funds to troubled automakers General Motors Corp. and Chrysler LLC.
America's largest domestic automobile producer General Motors had a worse 1st quarter earnings report than last year, posting $6 billion in net loss for the quarter as its revenue slumped by $20 billion exactly a year ago.
