General Motors quits Venezuela after government seizes factory
General Motors announced Thursday that it was shuttering its operations in Venezuela after authorities seized its factory in the country, a move that could draw the Trump administration into the escalating chaos engulfing the South American nation amid days of deadly protests.
The plant in the industrial city of Valencia was confiscated on Wednesday as anti-government protesters clashed with security forces and progovernment groups in a country battered by economic troubles, including food shortages and triple-digit inflation. Three people were killed and hundreds arrested in the deadliest day of protests since the unrest began three weeks ago.
The seizure arose from an almost 20-year-old lawsuit brought by a former GM dealership in western Venezuela. The dealership had been seeking damages from GM of about $665 million at the official exchange rate.