GM Inks Deal With Chinese Carmaker to Make Trucks and Vans

August 30, 2009

(ChattahBox)—U.S. carmaker GM, just emerging from bankruptcy, announced this week it plans to expand its operations in China, tapping into the growing Chinese market for trucks and minivans.

GM inked a $293 million joint venture deal with Chinese state-owned carmaker FAW, to provide for the growing demand in China for light trucks and vans. GM has had a presence in the Chinese market for several years, but the maker of Buick, Chevrolet and Cadillac vehicles recently saw a surge in sales.

GM sold 818,442 vehicles in China in just the first six months of 2009, compared with 1,094,561 for the entire year of 2008.

The GM trucks and vans would be sold under the Chinese FAW brand, but future exports under the GM brand are planned.

The GM vehicles will be manufactured at existing FAW plants in the cities of Changchun and Harbin.

Kevin Wale, managing director of GM’s Chinese operations, acknowledges that the growing Chinese market is vital to the health of the U.S. carmaker. “For us in China, this is an important complement to the rest of our portfolio,” said Wale.

Source


Comments

4 Responses to “GM Inks Deal With Chinese Carmaker to Make Trucks and Vans”

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  4. George Purdy on August 30th, 2009 6:10 pm

    GM business strategy is planned obsolescence. There are no suckers left in North America. All the rubes are Chinese.

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