Feb. 17, 2012 (China Knowledge) - Shanghai
GM, a joint venture between General Motors and SAIC Motor Corp Ltd<600104
>, plans to build its fourth Chinese plant in Jiangxia District of Wuhan
Province with an investment of RMB 7 billion or around US$1.11 billion.
The new facility, which will cover a land area of 2.2 square kilometers, is expected to go into operation by 2014 with an annual output capacity of 300,000 vehicles.
The program is currently still subject to approval from the Hubei
Environmental Protection Bureau.
The JV's first three vehicle plants are located in Shanghai
, Yantai of Shandong
Province and Shenyang
Province with an annual output capacity of 200,000, 240,000 and 320,000 units, respectively.
The proposed fourth plant would make Shanghai
GM meet its output and sales goal totaling 2 million vehicles in 2015, said a person familiar with the matter, adding that the new facility would become the JV's new energy auto center. Shanghai
GM has released the new Buick LaCrosse Eco-Hybrid last August with a 20% fuel saving compared with the standard LaCrosse. The JV intends to introduce more pure electric models in the next few years.