GM, Chinese Plan Joint Venture

Associated Press

General Motors Corp. and China's Auto Industry Corp. signed an agreement today that GM officials said will be the first step toward joint automobile production in China.

Under the agreement, GM will supply China National Automotive Industry Corp. with equipment and licensing technology to manufacture a 2-liter engine for China's auto industry. The plant, scheduled to be running by the end of 1990, will be able to produce 150,000 engines a year, Barton Brown, president of GM Overseas Corp., said at a news conference.

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