GM to invest US$3b in China in 3 years

[dArKeR]

General Motors Corp plans to invest more than US$3 billion in China over the next three years with the introduction of new vehicles and power trains, the building of new facilities and expansion of manufacturing and a new financing joint venture, the automaker announced Sunday.

US auto giant General Motors will invest more than US$3 billion in China over the next three years and double capacity to 1.3 million vehicles in the same period. Here a GM model and a Chinese guard on the Great Wall.
The new investment will be funded by profits from GM's China joint ventures, and the company said it is expected to open up jobs and business opportunities in North America and China.

"GM remains highly confident in the long-term prospect of the China market. With the world's fastest-growing vehicle market, success in China is crucial to GM's global success," said Phil Murtaugh, chairman and chief executive of General Motors China Group.

http://www.chinadaily.com.cn/english/doc/2004-06/07/content_337263.htm

Would be nice to see GM invest $3 Billion in American factories!

[geronimo]

1. next thing you know

they will start manufacturing tanks for them...