RSSCOMPANIES: INDUSTRIES:
General Motors (NYSE: GM)
General Motors Jobs & Careers,
Quote,
Opinion,
Profile,
Chart
General Motors Job Postings, Listings & Careers Search
-
Shanghai, China
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.
2014 Corvette Stingray Convertible
After debuting with much fanfare earlier this year, Chevy gives the Corvette Stingray a slight facelift at the 2013 Geneva Auto Show with the Corvette Stingray Convertible
Chevy Revives the Corvette Stingray
Antuan Goodwin takes a look at the new 2014 Corvette Stingray, the third incarnation of the 'Stingray' with fast lines and light weight materials wrapped in a Super Sports car package
Automotive Writer Terry Box reviews the 2014 Chevy Silverado
GM Plans to Close Down Opel Plant in Germany by 2016
In an effort to to stem losses with its European business in the midst of an extended auto market contraction, General Motors said that it will stop producing Opel cars in its Bochum, Germany
GM Enters Electric Car Joint Venture With Chinese Automaker
General Motors announced that it has entered into a joint venture with a Chinese automaker to develop electric cars. The deal also involves transfer of battery and other electric vehicle technology
General Motors to Manufacture Plug-In Cadillac Hybrid Electric Car
General Motors announced that it will manufacture a plug-in hybrid Cadillac. The new environment-friendly model would use technology similar to GM's Chevrolet Volt
General Motors - See the USA in Your Government Car
Despite disclaimers from President Obama that the government doesn't want to be in the car business, it is hard to see what it has bought with our tax dollars other than two of what used to be known as "the big three."
General Motors - GM's Fall & the Cars of My Youth
I wonder what my father would have thought of the self-destruction of General Motors. We were a General Motors family, but not a happy one. We always (but once) had Chevrolets.
In 1911, if you asked Billy Durant -- the prototypical American promoter/businessman -- if Chevrolet Motor Company would sell 180 million vehicles by 2011, he probably would have said, 'Damn right it will.' That was just the kind of guy William C. Durant was. Durant co-founded Chevrolet with race driver Louis Chevrolet on Nov. 3, 1911
General Motors: 'Cash for Clunkers' a Huge Success
Not everyone supported the Senate's passage of a bill that boosted "cash for clunkers" by $2 billion, effectively extending it through Labor Day. But it's hard to argue that the program, which gives rebates to people who trade in old cars for more fuel-efficient vehicles, hasn't made the auto industry happy. That's true for General Motors ...
General Motors - Cutting the Auto Giant Down to Size
The once-unthinkable outcome of General Motors declaring bankruptcy, with Uncle Sam frantically pouring huge financial transfusions into the dying patient, became a reality the other day as Uncle Sam took majority control of its management and risk.
Chevrolet Volt Becomes a Political Issue
The Chevrolet Volt may or may not be an electric car, depending upon whom you ask. But it certainly became a lightning rod of controversy during this past election season
By filing the paperwork for an initial public offering, GM signaled it is ready to shake off its pejorative recent nickname, Government Motors. Experts say the stock sale could come as early as October or November, a potential plus for the Obama administration just ahead of midterm elections
GMAC Rebranded as Ally Financial
The world of auto financing will soon lose an iconic name. Ally Financial Inc. has announced that it will rebrand its GMAC consumer and dealer-related auto finance operations in the U.S., Canada and Mexico and begin using the Ally name.
Advertisement
|