[Nikkei BP reported that] U.S. General Motors (GM) has announced that in order to expand its business in China, it will invest a total of 3 billion U.S. dollars in the next three years. The investment is mainly used for the following projects: the introduction of new models and new power systems, the strengthening of technology development centers, the expansion of existing factories, and the establishment of a joint venture company for automotive financial services. It is said that the profits of the business in China will be used as investment funds. In terms of new models, GM will introduce about 20 new and improved models in the next three years. Most of the new models will be manufactured in Chinese factories, including the Cadillac brand cars that Shanghai GM produces locally and imports from North America. In the same period, new engines and new transmissions will also be introduced. The production base of the engine will be Shanghai GM Dongyue Auto, which will begin production in the second half of 2005. The details of the new car's car name and new power system will be announced at the beginning of production and sales. Regarding the Intensive Technology Development Center, GM will add experimental facilities such as the Virtual Reality Design Studio, NVH Laboratory, and K&C Laboratory to the Pan-Asian Automotive Technology Center in Shanghai. Completed in the year. With the introduction of new models, by 2007, GM’s production capacity in China will expand to 1.3 million, which is twice the current level. To this end, GM plans to build a new factory and expand the original factory. The production capacity of the Shanghai GM vehicle assembly plant is 200,000 vehicles per year under the current three-shift operation. After expanding, it will become an annual output of 450,000 units of Buick. The construction started in 2005. At present, Shanghai GM Wuling Automobile Co., Ltd., which produces GM's small arrogance cars and produces 200,000 vehicles a year, will increase its annual production to 336,000 vehicles, and will begin to expand production in 2006. In addition to expanding Shanghai GM's engine plant, GM plans to build a new engine plant and transmission plant. The engine factory is built in the Shanghai GM Wuling factory area, with an annual production capacity of 300,000 units. The construction of the transmission plant is currently under investigation. The financial services joint venture “GMAC-SAIC Auto Finance†has been approved to establish and submitted a business license application to the China Banking Regulatory Commission. The company is the first foreign-funded enterprise in China to provide automotive financial services, mainly providing financial services such as loans for the sale of vehicles produced by Shanghai GM.
GM to invest 3 billion U.S. dollars in the next three years to expand its business in China
[Nikkei BP reported that] U.S. General Motors (GM) has announced that in order to expand its business in China, it will invest a total of 3 billion U.S. dollars in the next three years. The investment is mainly used for the following projects: the introduction of new models and new power systems, the strengthening of technology development centers, the expansion of existing factories, and the establishment of a joint venture company for automotive financial services. It is said that the profits of the business in China will be used as investment funds. In terms of new models, GM will introduce about 20 new and improved models in the next three years. Most of the new models will be manufactured in Chinese factories, including the Cadillac brand cars that Shanghai GM produces locally and imports from North America. In the same period, new engines and new transmissions will also be introduced. The production base of the engine will be Shanghai GM Dongyue Auto, which will begin production in the second half of 2005. The details of the new car's car name and new power system will be announced at the beginning of production and sales. Regarding the Intensive Technology Development Center, GM will add experimental facilities such as the Virtual Reality Design Studio, NVH Laboratory, and K&C Laboratory to the Pan-Asian Automotive Technology Center in Shanghai. Completed in the year. With the introduction of new models, by 2007, GM’s production capacity in China will expand to 1.3 million, which is twice the current level. To this end, GM plans to build a new factory and expand the original factory. The production capacity of the Shanghai GM vehicle assembly plant is 200,000 vehicles per year under the current three-shift operation. After expanding, it will become an annual output of 450,000 units of Buick. The construction started in 2005. At present, Shanghai GM Wuling Automobile Co., Ltd., which produces GM's small arrogance cars and produces 200,000 vehicles a year, will increase its annual production to 336,000 vehicles, and will begin to expand production in 2006. In addition to expanding Shanghai GM's engine plant, GM plans to build a new engine plant and transmission plant. The engine factory is built in the Shanghai GM Wuling factory area, with an annual production capacity of 300,000 units. The construction of the transmission plant is currently under investigation. The financial services joint venture “GMAC-SAIC Auto Finance†has been approved to establish and submitted a business license application to the China Banking Regulatory Commission. The company is the first foreign-funded enterprise in China to provide automotive financial services, mainly providing financial services such as loans for the sale of vehicles produced by Shanghai GM.