Basic Motors has mentioned its Venezuelan automotive plant has been seized by the federal government as political pressure rises within the nation.
Lengthy-standing divisions in Venezuela have been brought to the fore by a deepening financial disaster.
GM mentioned its Venezolana plant within the metropolis of Valencia had been “unexpectedly taken by the general public authorities”.
The US automotive large mentioned it could “take all authorized actions” to defend its pursuits.
It mentioned different property, together with automobiles, had been taken from the plant within the industrial hub of Valencia, which is one in every of nation’s largest cities.
The automotive agency added that the seizure would trigger irreparable harm to the corporate, its 2,678 employees, its 79 sellers and to its suppliers.
Venezuela’s Data Ministry didn’t reply to a request for remark.
No less than three people were killed in protests this week towards the federal government of President Nicolas Maduro.
Venezuela’s automotive trade has been hit by a scarcity of uncooked supplies resulting from foreign money controls and stagnant native manufacturing.