General Motors (GM) begins construction of USD1-bil. Cadillac plant in Shanghai, SGMW constructs USD1-bil. Chongqing plant
General Motors (GM) has announced a series of major investments in China, including the construction of two new plants.
General Motors (GM) has started construction of a plant for its Cadillac brand in China. The new Shanghai GM (SGM) plant and PATAC R&D facility represent a total investment of RMB8 billion (USD1.3 billion) and will occupy a total area of about 750,000 square metres. The plant at Shanghai GM's Jinqiao base has a planned annual capacity for 160,000 units. It will include body, paint and general assembly shops, auxiliary facilities, and a high-speed and brand experience centre. Speaking at the ground-breaking event, GM chairman and CEO Dan Akerson said, "Our new plant underpins our plan to introduce a new Cadillac model in China every year through 2016, and achieve a 10% share of the luxury market by 2020."
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