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GM China venture opens US$263 Million Engine Plant
GM China venture opens US$263 Million Engine Plant
2007-7-2
GENERAL Motors Corp's Chinese minicar venture opened a 2 billion yuan (US$263 million) engine plant because of rising vehicle sales in the world's fastest-growing major auto market.
SAIC-GM-Wuling Automobile Co, with a capacity of 300,000 engines a year, will start production in August, GM said in an e-mailed statement today. The factory in Liuzhou, southwestern China, will make 1.1-liter and 1.2-liter engines, it added.
GM, the largest US carmaker, has opened new plants in China, while closing factories at home, as it aims to raise annual sales in the country to 1 million vehicles by next year at the latest. SAIC-GM could raise its annual capacity to 700,000 vehicles from about 400,000, Kevin Wale, chairman of GM's China unit, said in April.
GM owns 34 percent of SAIC-GM, while Shanghai Automotive Industry Corp owns 50.1 percent and Wuling Motors holds 15.9 percent, according to the statement.
Shanghai Automotive Industry Corp is the parent of China's largest carmaker SAIC Motor Corp.
Shanghai Daily News
GM China venture opens US$263 Million Engine Plant
2007-7-2
GENERAL Motors Corp's Chinese minicar venture opened a 2 billion yuan (US$263 million) engine plant because of rising vehicle sales in the world's fastest-growing major auto market.
SAIC-GM-Wuling Automobile Co, with a capacity of 300,000 engines a year, will start production in August, GM said in an e-mailed statement today. The factory in Liuzhou, southwestern China, will make 1.1-liter and 1.2-liter engines, it added.
GM, the largest US carmaker, has opened new plants in China, while closing factories at home, as it aims to raise annual sales in the country to 1 million vehicles by next year at the latest. SAIC-GM could raise its annual capacity to 700,000 vehicles from about 400,000, Kevin Wale, chairman of GM's China unit, said in April.
GM owns 34 percent of SAIC-GM, while Shanghai Automotive Industry Corp owns 50.1 percent and Wuling Motors holds 15.9 percent, according to the statement.
Shanghai Automotive Industry Corp is the parent of China's largest carmaker SAIC Motor Corp.
Shanghai Daily News