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GM's Chinese JV to set up USD1.04b new auto plant  Join our daily free Newsletter

MENAFN - 29/11/2012

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(MENAFN) The government of China's Chongqing stated that SGMW, General Motors' joint venture with Chinese firms, would spend USD1.04 billion on the establishment of a new plant in the country, reported Xinhua News.

It added that construction of the plant, which would have a production capacity of 400,000 vehicles and 400,000 engines when its starts operations in 2015, would begin next year.

SGMW has 2 bases in China, the first in the eastern coastal city of Qingdao and the second in the southern city of Liuzhou.

The firm, which specializes in the mini and small car markets, said that in the January-October period, its sales reached 1.21 million units.

It is worth noting that China is the world's second-largest auto market after the US, with its auto production and sales up at an annual pace of more than 20 percent from 2000 to 2010, according to the country's minister of industry and information technology, Miao Wei.

 






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