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GM expects to need new China plant
GM expects to need new China plant as sales rise
Posted on Monday, January 25th, 2010 at 12:17 PM EST.(Employee News)
General Motors Co. expects it will need to build a new greenfield manufacturing facility in the near future in China to accommodate strong growth in the world’s largest auto market, but it will not be building a plant this year, its China president said on Saturday, Reuters reported.
The U.S. automaker sold a record 1.83 million vehicles in China in 2009, up 66.9 percent from 2008 and outpacing a 46 percent rise in the overall vehicle market, and it anticipates further growth this year, Reuters said.
“We expect to sell more than 2 million units this year,” Kevin Wale told Reuters at a ceremony to launch the Buick Excelle XT in Shanghai. GM has been adding new shifts and expanding its existing assembly lines to meet robust market demand since last year, the news service said. (Reuters)
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