General Motors Co. said it received approval from Chinese regulators to build a Cadillac plant to increase sales of its luxury vehicle in the world's largest automobile market.
GM, the biggest foreign carmaker in China, announced that local authorities signed off in the project to construct an 8bn yuan ($1.3bn) factory to manufacture its luxury Cadillac brand that will have an annual production capacity of 150,000 vehicles.
The approval comes at a time when leading foreign premium brands such as BMW AG and Daimler AG's Mercedes-Benz are expecting slow growth this year as the premium car markets faces a slowdown. BMW saw its sales in China surge 40 percent last year.
China's National Development and Reform Commission has approved the plant, which will be based in Shanghai's Jinqiao zone, according to GM spokeswoman Dayna Hart. The agency had recently approved the project, but Ms Hart did not specify a date.
The Detroit-based automaker announced in April last year that it plans to build at least one Cadillac factory in China. Construction of the plant will begin in June.
Sales of the Cadillac brand last year stood at 30,010 units, which trail Audi's 405,838 units, BMW's 327,341 and Mercedes-Benz at 196,211, according to GM data. The U.S. carmaker halted production of the Cadillac SLS in China when it was replaced with the XTS model.
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