US $$ for GM's 8th China Plant? | WHAT REALLY HAPPENED


US $$ for GM's 8th China Plant?

GM Opens Eighth China Plant, Won't Add Further Capacity Soon
By Tian Ying

"Dec. 17 (Bloomberg) -- General Motors Corp. opened its eighth vehicle plant in China and said it had no plans for adding further capacity amid slowing demand in Asia's biggest auto market.

This ``has been a big year in terms of expansion'' and it ``probably will keep us occupied for the foreseeable future,'' Kevin Wale, GM China's president, said by phone today. He spoke from the northeastern city of Shenyang after the opening of the carmaker's new 2.67 billion yuan ($390 million) plant."

"GM, the biggest overseas automaker in China, is counting on emerging markets and U.S. aid to help it survive a plunge in North American sales. The Detroit-based automaker expects to sell as many as 1.2 million vehicles in China next year, Wale said on Dec. 5."

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA