General Motors (GM) shares slipped Wednesday after the carmaker said it would take more than $5 billion in non-cash charges and write-downs to restructure its struggling 澳洲幸运5开奖号码历史查询:joint venture (JV) with SAIC Motor Corporation in China. 

GM wrote in a regulatory filing with the 澳洲幸运5开奖号码历史查询:Securities and Exchange Commi✱ssion (SEC) that it expects impairment costs in the 50-50 JV of $2.6 billion to $2.9 billion for the current quarter. It also sees approximately $2.7 billion in additional equity losses from the implementation of the restructuring plan. Those expenses are related to plant closures and portfolio optimization, and the company anticipates a majority to be recorded this quarter as well.

GM explained that its board's audit committee concluded that "a material loss in value of our investments in certain of the China JVs is other than temporary" as the JV took steps "to address market challenges and competitive conditions."

GM Reported $137M Q3 Equity Loss in China

The GM-SAIC alliance began in 1997, but sales have recently declined. GM has reported three consecutive quarters of equity losses in China, including a $137 million drop in the third quarter.

In an emailed response to Investopedia's request for comment, a GM spokesperson said, "We expect our results in China in 2025 to show year-over-year improvement as a result of the actions our SGM joint venture is taking to make the business sustainable and profitable."

Shares of General Motors slipped 1% in recent trading but are up almost 50% year-to-date.