GM plans USD 14 billion investment in China, part of global plan
CEO has outlines major investment plans to boost the company's presence in China as the automaker looks to resurrect itself globally.
At a time when growth rates across the light-vehicle industry in China are slowing, the CEO of US automaker General Motors (GM) has outlined strategic growth plans for the automaker in its largest global market. Mary Barra, CEO of GM, yesterday (1 October) outlined the company's plans to return to strong profitability by pursuing greater market share in China. Using China as a major market in its strategy to achieve strong growth across regions, the strategic plan includes various initiatives to bring about a 9−10% margin on an earnings before interest and taxation (EBIT)-adjusted basis by early next decade.
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