General Motors and its Chinese joint-venture partners expect to invest a sizable $11 billion in China between now at the end of 2016 as a part of a massive expansion plan for the market, after a meeting with analysts. But to avoid any confusion, CEO Dan Akerson stated that the massive capital will come from the company’s operations in that country — not the United States, or Europe, or elsewhere.
As the plan was announced, SAIC-GM-Wuling (SGMW) broke ground on a new RMB 6.6 billion (US$1.1 billion) assembly plant in Chongqing, which will have an annual production capacity of 400,000 vehicles after the first building phase is completed in 2014, when it will start building Wuling models.
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