THAILAND — Great Wall Motor Co. agreed to buy General Motors’ Thailand manufacturing plant, a transaction expected to be completed by the end of 2020.
In rearranging its global operations, GM is accelerating a retreat from unprofitable markets, becoming more dependent on the United States, China, Latin America and South Korea. GM said it will also pull the Chevrolet brand from Thailand, a major pickup market. With the proposed sale of the Thailand plant to Great Wall, GM is giving up an opening to expand operations in Southeast Asia.