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Cadillac Plant Approved for China
General Motors Co. has been granted permission by China's central government to open a $1.3 billion Cadillac assembly plant in Shanghai.
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General Motors Co. has been granted permission by China's central government to open a $1.3 billion Cadillac assembly plant in Shanghai.
GM says construction will begin in June on the facility, which will have annual capacity to make 150,000 luxury vehicles. The company hasn't said when production will begin or which models will be built there. GM began assembling the Cadillac XTS large sedan in February at an existing facility in Shanghai.
The new Caddy factory is part of the $11 billion investment plan GM announced for China last month. The initiative will add four assembly plants within the next three years, thus boosting GM's annual capacity in the country by 30% to 5 million vehicles.
GM sold about 30,000 Cadillacs in China last year. That volume was dwarfed by rival luxury brands Audi (405,800 units), BMW (327,300 units) and Mercedes-Benz (196,200 units). GM aims to boost annual Caddy sales in China to 100,000 units by 2016.
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