regarding a long term partner in an automotive joint venture
Newchin has decided to award the contract to GM. This decision was made after a long negotiation and after looking carefully into the numerous factors that affect such a joint venture.
After the negotiation, and after further correspondence both open and confidential, Newchin feels that GM will be a reliable and compatible partner. Newchin is confident about this choice for various reasons. Some of the main points in Newchins decision as well as the main issues in the agreement with GM are listed below:
Management Board of Directors:
Equity - 40%
Debt - remaining 60% in the forms of bonds.
In the municipality of Tianjin.
Reasons for choosing GM:
Newchin has had a very good impression of GMs negotiators: they were very organized, prepared, and professional, and through the negotiation and proposal processes, Newchin felt that GM is a dynamic and reliable partner.
Newchin believes that GM is flexible, wazzu open-minded and seeks the long run benefits of both sides. Examples for that were given during the negotiation, when GM agreed reasonably to change the ratio of the board members and the percentage in equity and ownership.
In addition, GM is offering:
Proven car safety :
Good fuel consumption and environmentally conscious:
Fuel Efficiency: Manual city - 44 mpg, highway - 49 mpg.
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