GM goes local to raise market share
By Li Fangfang | China Daily | Updated: 2013-06-20 07:23
US automaker General Motors Co aims to increase its market share in China's expanding luxury vehicle segment through local production of its high-end Cadillac cars.
Shanghai GM, a 50-50 joint venture between General Motors and its Chinese partner SAIC Group, broke ground on Wednesday for a new plant to make Cadillacs in Shanghai. The base will include a research and development facility under its Pan-Asia Technical Automotive Center (PATAC).
The total investment for the new plant, with a planned annual capacity of 160,000 luxury vehicles, and the R&D facility stands at 8 billion yuan ($1.3 billion).
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