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New China plant to help GM stay top
Source: Agencies |
November 29, 2012, Thursday
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Print Edition
Print Edition
GENERAL Motors Co and its Chinese joint-venture partners said yesterday they plan to build a US$1 billion auto assembly plant in Chongqing as part of its push to remain the leader in the world's largest auto market.
GM, SAIC Motor Corp and Wuling Motors Holdings Ltd said they will begin construction of the plant early next year pending relevant Chinese government approvals. The 6.6 billion yuan (US$1.06 billion) first phase is set to open in 2015.
The plant will have an annual output capacity of 400,000 vehicles and engines, although the partners did not disclose what vehicles will be built there.
The new plant is part of SAIC-GM-Wuling's push to reach its production target of 2 million vehicles annually by the end of 2015.
GM, SAIC Motor Corp and Wuling Motors Holdings Ltd said they will begin construction of the plant early next year pending relevant Chinese government approvals. The 6.6 billion yuan (US$1.06 billion) first phase is set to open in 2015.
The plant will have an annual output capacity of 400,000 vehicles and engines, although the partners did not disclose what vehicles will be built there.
The new plant is part of SAIC-GM-Wuling's push to reach its production target of 2 million vehicles annually by the end of 2015.
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