Jun. 7, 2012 (China Knowledge) - Shanghai GM, a joint venture between General Motors and SAIC Motor Corp Ltd<600104
>, yesterday started construction on a new factory in Wuhan
Province, sources reported.
The automaker plans to invest RMB 7 billion in the new plant, its fourth production base after those in the eastern cities of Shanghai
and the northeastern city of Shenyang
The first phase of the new plant is expected to begin operation in 2014 with annual production capacity of 300,000 units. At present, Shanghai
GM's three existing bases have total capacity of 1 million units.
The automaker aims to increase its annual output to 2 million units by 2015. The company on May 30 added 240,000 units of production capacity to its Shanghai
plant, with an expansion project still underway at its Shenyang
In the first five months of this year, Shanghai
GM's auto sales amounted to a record 555,280 units, including 12,109 Cadillac vehicles, 6.6% more than in the same period of 2011, China Knowledge reported earlier