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General Motors Co, SAIC Motor Corp and Wuling Motors Holdings Ltd To Build $1 Billion Plant In Chongqing-Reuters


Wednesday, 28 Nov 2012 01:01pm EST 

Reuters reported that General Motors Co (GM) and its Chinese joint venture (JV) partners said they plan to build a $1 billion auto assembly plant in the city of Chongqing. GM, SAIC Motor Corp and Wuling Motors Holdings Ltd said they will begin construction of the plant early 2013. The CNY6.6 billion ($1.06 billion) first phase is scheduled to start in 2015. The plant in southwestern China will have annual production capacity of 400,000 vehicles, but the partners did not disclose what vehicles will be built there. It also will have the capacity to build 400,000 engines annually, a GM spokesman said. 

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