Shanghai becomes Cadillac's sole overseas production base
12/11/2003 15:46
General Motors (GM) announced its new strategiy to produce luxury
Cadillac sedans in Shanghai, and Shanghai GM will become the only overseas
Cadillac production base, according to Richard Wagoner, Director Board and Chief
Executive Office of GM in Beijing.
Parts of the Cadillac models will be
manufactured locally.
Shanghai General Motors, a 50-50 joint venture between
GM and Shanghai Automotive Industry Corp (SAIC), will expand its annual capacity
to 300,000 by 2005.
The SAIC-GM-Wuling Automobile Co Ltd, a three-way joint
venture invested by Shanghai Automobile Industry (Group) Corporation, General
Motors and Liuzhou Wuling Automotive Co Ltd, will increase its capacity from
186,000 to 336,000 by 2006.
GM's new strategies aim to make Shanghai, the
national economic hub, its focus of expansion into the Chinese market, or even
Asian areas, said an industry analyst.
"The competition winner will claim the
biggest share in the fast-growing Chinese market," Wagoner said.
GM has been
in a close relationship with Shanghai over the past several years, and GM
seniors have participated in nearly all the International Business Leaders'
Advisory Council for the Mayor of Shanghai, with Wagoner attending and acting as
vice president of the council three times; he will be installed as president in
next year's council.
GM has donated funds to support the local fight against
SARS this year and offered suggestions to assist Shanghai in holding the 2010
World Expo.
Wendy Zhang/ Shanghai Daily news
|
