General Motors Announces Expansion in China

At the Shanghai Auto Show on April 20, General Motors Co. said it would build four new plants in China by the end of 2015, which would give GM the capacity to produce about five million vehicles per year, according to Autoblog. GM is expecting to export between 100,000 to 130,000 Chinese-built vehicles this year. In addition, GM plans to add 400 dealerships in 2013 to its already existing 4,200, and it hopes to expand further to 5,100 dealers by 2015. Overall, GM will spend $11 billion by 2016 on new plants, products, and staff in China.

Over the next five years, GM will introduce nine new sport-utility vehicles on top of the five it sells in China at present, according to Bloomberg News. Each year through 2016, it will debut a new Cadillac model to boost sales of its luxury vehicles. “We’re confident about playing here in China,” Bob Socia, GM’s China president, told Bloomberg. “We’re here for the long term and you’ve got to lead and be strong in your commitment. We’re very bullish.”