The closure comes only a day after Venezuela erupted in more protests that have left at least three dead. President Nicolas Maduro’s policies have left people jobless and without food.
GM’s factory was “unexpectedly taken by the public authorities, preventing normal operations,” according to an emailed statement. The Detroit-based automaker said it “strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside of Venezuela, to defend its rights.”
The plant shutdown took place as protesters flooded the capital city of Caracas in the biggest show of opposition to President Nicolas Maduro’s government in months. The auto industry has collapsed, with sales plunging 92 percent in March, as a shortage of dollars has pushed new car prices beyond the means of all but the wealthiest Venezuelans.
GM has suffered a production downfall due the inability to “obtain hard currency to import car parts” since Venezuela has such strict currency controls.Read more at LegalInsurrection