Date
20 October 2017

GM to invest US$11 bln in China by 2016, report says

General Motors Co.’s major joint ventures in China plan to invest an additional US$11 billion in the country by 2016 to roll out new models, increase production capacity and hire of more staff, the official Xinhua news agency reported Thursday, citing remarks by the carmaker’s chief executive Mary Barra during her visit to Shanghai on Wednesday. Barna said GM will launch 19 new models and redesigns in China this year while focusing on favorite brands such as Buick, Chevrolet and Cadillac. China has been GM’s largest consumer market in the past five years. Shanghai General Motors Co. Ltd., one of GM’s joint ventures in the country, sold 1.58 million vehicles in 2013, up 13.1 percent from the previous year, the report said.

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