General Motors said on Wednesday its main Chinese joint venture has received government approval to build a Cadillac factory as part of GM’s efforts to expand its share of China’s luxury auto market.
Plans call for the 8 billion yuan (HK$10.0 billion) factory in Shanghai to begin production in 2015 with an annual capacity of 150,000 vehicles, according to GM spokeswoman Dayna Hart.
GM sells imported Cadillacs in China but the luxury market is dominated by Germany’s Mercedes Benz, BMW and Audi. Reported by S.China Morning Post 5 hours ago.
Plans call for the 8 billion yuan (HK$10.0 billion) factory in Shanghai to begin production in 2015 with an annual capacity of 150,000 vehicles, according to GM spokeswoman Dayna Hart.
GM sells imported Cadillacs in China but the luxury market is dominated by Germany’s Mercedes Benz, BMW and Audi. Reported by S.China Morning Post 5 hours ago.