Sunday, December 27, 2009

Venezuela's Chavez threatens Toyota, GM

Venezuelan President Hugo Chávez is threatening to expel international automakers, according to the Wall Street Journal. Chavez specifically targeted Japanese carmaker Toyota. The Venezuelan president was also critical of Fiat SpA of Italy, which controls Chrysler Group LLC, and General Motors Co.

Reuters reports that Chávez, threatening the auto manufacturers with nationalization, accused Asian and U.S. carmakers of refusing to share technology with the locals. Chávez ordered an investigation into Toyota operations.


tiffany said...

How have the actions of Hugo Chavez effected the investment environment within Latin America? Commodities expert Robert Petrucci explains

Anonymous said...

If he follows through... does that mean the jobs there will return to the US mainland? If that's the case, piss him off so the work returns to where it is desperately needed! Detroit and all of Michigan would welcome the move on behalf of GM. So would the U.S. taxpayer that bailed GM out and now owns a big chunk of it.