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NINETY EIGHT REGENCY

GM aims to grow capacity at China joint ventures

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GM aims to grow capacity at China joint ventures

Automotive News Europe -- September 16, 2010 13:16 CET

CHENGDU, China (Reuters) -- General Motors Co. aims to sell at least 10 to 15 percent more vehicles in China next year, in line with the expected rate of growth in the world's biggest auto market, its China chief said on Thursday.

"The market is still quite solid. As you know this year is going to be a strong year. We will see continued growth next year, but growing at a range between 10 to 15 percent," Kevin Wale, president and managing director of GM's China operations, told Reuters.

"Our strategy always is trying to grow at least with the market. If we can do a little better, that's good, " he said on the sidelines of an industry event.

Wale sees the need to continue growing capacity at its China joint ventures. GM is continuing to look for areas to increase capacity, with greenfield plants always an option, he added.

"When you're selling about 2 million units a year, a 10 or 15 percent growth is a new assembly plant."

GM operates vehicle manufacturing ventures with SAIC Motor Corp. and FAW Group.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100916/ANE/309169974/1131#ixzz0zhpG0B4d

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