Remember: GM received nearly $50 billion of bailout funds in 2009, Did we bail out General Motors to have it become China Motors? According to General Motors CEO Dan Akerson, GM now: Makes almost 70 percent of its vehicles outside the US Has more than 2,700 dealerships in China Operates 11 assembly plants in China Has 11 joint ventures in China with two Chinese government-controlled companies Regards these joint ventures as 11 keys to success. the Chinese government ownership of Nexteers 22 factories around the world, its six engineering centers, its 14 customer-support centers, along with more than 1,000 patents. Those patents, said Jack Chen, the investment banker at Transworld Capital Group who put the deal together, dramatically shortens the technology gap between China and the rest of the world. Is General Motors Now China Motors?