(MENAFN) General Motors (GM) said that it is planning to invest USD11 billion in China by 2016, Xinhua reported
The company"s CEO said during a visit to the eastern Chinese city of Shanghai that the money will be allocated to products, production capacity and recruitment
The CEO added that GM will launch 19 new models and redesigns in China in 2014, and will focus on sales of Chinese consumers' favorite brands such as Buick, Chevrolet and Cadillac
Shanghai General Motors Co. sold around 1.58 million units last, increasing 13.1 percent from the year before it
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