GM bankruptcy has no impact on Shanghai GM

SAIC Motor Corp. said Monday it doesn't expect General Motors Corp.'s (GM) bankruptcy filing in the U.S. to have a substantive impact on the two companies' vehicle-making joint ventures in China.

GM's assets, brands and technology in China will be included in the "New GM" when the U.S. automaker exits from bankruptcy protection, said SAIC, China's largest automaker by sales volume.

"SAIC has the confidence and the strength to unwaveringly support the joint ventures' healthy and stable development," the Chinese automaker said in a statement.

GM operates a passenger vehicle-making joint venture with SAIC Motor and another joint venture primarily making commercial vehicles with SAIC Motor and Wuling Automobile Co.