TribLIVE

| Business

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

GM to open Cadillac plant in China

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

GM $32.08 +$0.43

at close on WEDNESDAY

By The Associated Press
Wednesday, May 8, 2013, 10:06 p.m.
 

General Motors Co. confirmed that it's building a Cadillac factory in China.

GM will start building the $1.3 billion plant next month in Shanghai's Jinqiao zone. It will produce 150,000 vehicles per year.

The automaker recently received regulatory approval for the new plant.

GM currently makes just one Cadillac — the XTS sedan — in China. Production began in February at a plant in Shanghai.

The company won't say which models will be made at the new plant, but has said it plans to introduce one locally made Cadillac each year through 2016.

GM is trying to increase Cadillac sales in China, where the luxury market is dominated by European brands. Cadillac's China sales doubled in April to 4,000 vehicles, or around 1.5 percent of GM's total sales.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Vote set at SEC to reveal pay gap between CEO and median employee at publicly traded companies
  2. Private schools fill void in driver education in Western Pennsylvania
  3. AmEx’s accord with merchants over fees rejected by judge
  4. Esmark CEO Bouchard: Steel industry ‘weathered through the storm’
  5. Earnings misses by Allstate, NRG drag market lower for 3rd consecutive day
  6. Delphi buys CMU spinoff that makes self-driving car software
  7. Groups appeal Shell air permit for Beaver County project
  8. Operating loss mounts at Highmark’s core hospital system
  9. Obama’s Clean Power plan doesn’t change much; opponents remain firm
  10. FNB buying Harrisburg-based Metro Bancorp
  11. Coal producer Alpha Natural Resources files for bankruptcy