General Motors Quits Venezuela After Officials Seize Plant | NBC 7 San Diego
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General Motors Quits Venezuela After Officials Seize Plant

Venezuela is in the midst of triple-digit inflation and shortages of supplies

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    NEWSLETTERS

    (Published Wednesday, April 19, 2017)

    One of General Motors' plants in Venezuela was seized by local authorities, forcing the automaker to quit the crisis-hit country roiled by weeks of deadly protests, NBC News reported.

    The local General Motors subsidiary only said of the seizure that its factory "was unexpectedly taken by authorities, preventing normal operations" and that assets including vehicles had been stripped from the site. It has more than 2,500 workers and 75 dealers in the country, who suffered "irreparable damage" along with the company.

    Venezuela's Information Ministry did not immediately comment, according to Reuters.

    Venezuela is in the midst of triple-digit inflation and shortages of supplies, leaving citizens suffering from a lack of water, food, medicine and more.