GM in talks to boost Wuling stake

General Motors is in talks to boost its stake in a joint venture that produces inexpensive vans and trucks, the Wall Street Journal reported, citing people familiar with the matter. The paper said that GM is in negotiations with the government of Guanxi province to raise its stake in SAIC GM Wuling Automobile Corp. The American carmaker currently holds a 34% stake in the venture, with Shanghai Automotive Corp holding 50.1% and state-owned Liuzhou Wuling Motor Co holding the remainder. GM has been using its Wuling vehicles – which sell for around US$3,700 – to expand its market share in China and the automaker hopes Wuling could serve as a launching pad to sell low-cost cars in other emerging markets.