Despite the fact that the Chinese new car market barely grew last year , and ignoring commentators that predict a flat market for this year also, GM has expansionist plans for the region.
According to Bloomberg, GM should shortly receive approval to build a $1.1 billion factory in China, which will expand GM China’s annual capacity by 300,000 units.
The plant belonging to GM’s joint venture with SAIC will be located in Wuhan, Hubei province. Shanghai GM says no formal decision has been reached. Last December, China announced that foreigners are no longer encouragedto invest into car companies. GM already is invested …