GM, FAW mull new joint venture

General Motors (GM) is in talks with state-owned FAW Group on forming a new joint venture to make light commercial vehicles, the Wall Street Journal reported. The American automaker confirmed in a statement that it is in talks to set up a "potential partnership" and sources told the paper that the new joint venture would produce large light commercial vehicles such as vans and trucks. FAW already has joint ventures with Volkswagen and Toyota. Should the deal be concluded, FAW would be GM’s third vehicle-production partner in China. GM is hoping that sales in China and other emerging markets will offset slumping growth in the US. But auto sales growth in China slowed last year to 6.7%, ending a decade of double-digit sales growth.