GM Sets up New Plant in East China

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Last updated at: (Beijing Time) Saturday, December 21, 2002

GM Sets up New Plant in East China

General Motors signed an agreement Friday to transfer part of its China operations from Shanghai to Yantai, a coastal city in east China's Shandong Province.

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General Motors signed an agreement Friday to transfer part of its China operations from Shanghai to Yantai, a coastal city in east China's Shandong Province.

The agreement was signed by Shanghai Automobile Industrial (Group) Corporation, General Motors China and Shanghai GM Company Ltd., which hold 25 percent, 25 percent and 50 percent of the shares of a new joint venture.

In this sense, Shanghai GM will relocate its Sail car production line to the new plant in Yantai, which will be ShanghaiGM's second automobile manufacturing site outside Shanghai.

The relocation completed on Dec. 10, and the new plant is designed to have an annual production capacity of 100,000 Sail cars.

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