General Motors wants to withdraw roughly $16 billion from its credit facilities as a proactive measure against all the uncertainty revolving around global markets due to the COVID-19 pandemic.
This action will preserve financial flexibility and give the U.S. carmaker a strong cash position of about $15 billion to $16 billion at the end of March. GM is also suspending its 2020 guidance for the exact same reasons, just as Ford did last week.
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