GM To Display Volt, 36 Other Vehicles At Shanghai Auto Show
02 April 2009 - 6:51AM
Dow Jones News
General Motors Corp. (GM) said Thursday it will display 37
vehicles at the Shanghai auto show later this month, including the
Chevrolet Volt electric car.
Kevin Wale, president of the GM China Group, said in a statement
the auto show lineup demonstrates the company's "long-term
commitment to China," despite the troubles that the company faces
in its home market in the U.S.
China has been a relative bright spot for the company, as brands
such as Buick remain popular in the country. GM's vehicle sales in
China rose 6.1% to 1.03 million units last year, although over half
of that figure came from a joint venture in which it only holds a
34% stake. GM sales in the U.S. fell 11% in 2008.
GM said it will display cars in Shanghai from its full range of
brands, including Buick, Chevrolet, Cadillac and Saab.
The Chevrolet Volt, powered by a rechargeable plug-in battery,
will be coming to China in two years, the company said in its
statement. The company describes the car as "the world's first
extended-range electric vehicle."
GM said it will also display its second hybrid vehicle to be
sold in China, a Cadillac Escalade sport utility vehicle.
GM has two joint ventures in China, a 50-50 joint venture with
SAIC Motor Corp. (600104.SH), and a three-way joint venture with
SAIC and Wuling Automobile Co.
The auto show runs from April 20 to April 28.
-By Aaron Back, Dow Jones Newswires; (8610) 6588-5848;
aaron.back@dowjones.com