GM to invest $11 billion in China
Updated: 2014-02-14 13:46
(Xinhua)
|
|||||||||||
SHANGHAI - The CEO of General Motors (GM) said on Wednesday that the major automaker's joint ventures in China plan to invest a further $11 billion by 2016.
Speaking during a visit to the eastern Chinese city of Shanghai, Mary Barra said the money will be allocated to three areas: products, production capacity and recruitment.
Barra added that GM will launch 19 new models and redesigns in China this year, and focus on sales of Chinese consumers' favorite brands such as Buick, Chevrolet and Cadillac.
China has been the largest consumer market for GM in the past five years.
Shanghai General Motors Co sold 1.58 million vehicles in 2013, up 13.1 percent year on year.
Related Stories
GM says Jan China car sales up 12% YOY 2014-02-12 14:07
Will GM moves affect China market? 2014-02-05 11:54
GM China chairman to retire 2014-01-25 10:17
New GM CEO Barra vows to 'accelerate' 2014-01-24 15:57
Today's Top News
4 die in Austrian train-car crash
China spends billions on rural education
Plan drafted for $36b undersea tunnel
Rural reform needs science input
Service gives hope to bereaved parents
China's IPOs raise nearly $5 billion
Policy may alter migration route
US envoy meets India's Modi
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Life after glory of victory |
Games bid to boost winter sports |
Sochi Olympics |
Bittersweet Spring Festival |
Find provides grave paws for thought |
Smog descends on the 'two sessions' agendas |