GM to battle VW in China with $12 billion investment and new plants

BEIJING - U.S. car giant General Motors Corp (GM) plans to invest $12 billion in China from 2014 to 2017 and build more plants next year as it competes with aggressive rivals in the world's largest auto market.

Recent Business News

South Africa's 'spaza' shops suffer as big retail rolls in

SOWETO, South Africa - In this corner of South Africa's black township of Soweto, the biggest building used to be the Catholic church. Now it's been overshadowed by a shopping center and business has only gotten worse for Grace, a 68-year-old shopowner.

5:04am EDT

Daimler to sell DENZA electric car in China with local subsidy

BEIJING - Daimler said its DENZA electric car will be eligible for local subsidies in China when it goes on sale there in September priced at 369,000 renminbi ($60,000).

2:33am EDT

Mercedes, BMW chase ultra rich clients with new high end cars

BEIJING - Premium auto maker BMW unveiled a luxury concept sedan in Beijing on Sunday, to gauge customer appetite for a car that would cost more than German manufacturer's current flagship 7 series limousine.

11:50am EDT

In the driving seat: China's yuppies are new market force for global automakers

SHANGHAI/BEIJING - Global automakers are scrambling to meet the demands of China's young urban professionals, who want a car that makes them stand out, yet don't always have the money to splurge on a top-end model.

7:24am EDT


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