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GM Wins Approval for Cadillac Factory in China
The Chinese government has granted General Motors Co. permission to erect an 8 billion yuan (€985 million) assembly plant in Shanghai to make Cadillac vehicles.
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The Chinese government has granted General Motors Co. permission to erect an 8 billion yuan (€985 million) assembly plant in Shanghai to make Cadillac vehicles.
GM says construction of the facility, which will have annual capacity of 150,000 units, will begin next month. The company did not disclose when production would start or which models will be built there initially.
GM aims to triple Cadillac sales in China to 100,000 vehicles by 2016. Building cars locally would enable the company to sell them at lower prices than imported models, on which a 25% tariff is levied.
Although GM is China's top-selling carmaker, Cadillac accounted for just over 1% of the company's 2.84 million-vehicle volume there last year. Cadillac sales are dwarfed by those of such rivals as Volkswagen's Audi brand (405,800 vehicles), BMW's namesake marque (327,300 units) and Daimler's Mercedes-Benz make (196,200 units).
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