Chinese carmaker SAIC Motor and US automotive group General Motors have extended the term of their Chinese joint venture, SAIC-GM, by 20 years to 2047. As

General Motors and SAIC Motor extended their joint venture agreement on Wednesday for another 20 years, one year ahead of schedule.

GM said the deal will focus on domestic sales of Buick and Cadillac models in China and exporting Chevrolet products built in China for non-U.S. markets.