General Motors said Wednesday that Venezuela’s government has illegally seized its manufacturing plan in Valencia.
General Motors Venezolana was taken unexpectedly by President Maduro’s despotic government.
Venezuela has been spiraling into chaos ever since it chose to follow Hugo Chavez into a form of dictatorial socialism.
U.S. firms have more than 20 arbitration cases against the Venezuelan government over similar seizures.
Ford motors chose to write off $800 million in assets in the country in 2015.Wake up Right! Subscribe to our Morning Briefing and get the news delivered to your inbox before breakfast!