GM to export another 700 million USD into China R&D
Chinese Car News, Shanghai GM | CCTMay 18, 20071:35 pm
Cadillacs for China? Is that the stuff they cant sell in the USA, so they ship it to China for resale?
GENERAL Motors Corp, the largest US auto maker, said it plans to export US$700 million in automotive components and fully-assembled Cadillacs from North America to its joint venture in China, Shanghai General Motors.
GM has exported about US$3.5 billion in vehicles, components and machinery to China over the past 10 years, the Detroit-based auto maker said in a statement on its Website. China has become a focal point for GM as its US sales slide. GMs sales in China rose 25 percent in the first quarter, while those in the US market fell 5.5 percent.
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