GM-SAIC partnership still strong despite rumors

General Motors (GM.NYSE) has denied rumors that its ties with Chinese state-owned company SAIC Motor (600104.SHA) were strained, stating that relations are actually flourishing, Reuters reported. GM has also said the two companies are in talks to expand into Indonesia. The recent speculation came as SAIC made independent moves outside of China, with some experts and industry insiders interpreting this as a drift between the companies. GM China Chairman Tim Lee stated that relations have never been better and the recent moves made by SAIC are merely a coincidence.