General Motors forms a separate business unit in the new Pudong district of Shanghai to expand Chinese imports of some of the most popular and profitable cars, which are manufactured and sold mainly in North America.
The Detroit automaker has signed a letter of intent with the New Pudong District Government to invest $ 100 million in the new business, GM’s Chinese division said.
“The new Premium Import business, developed for China, will present a select collection of iconic GM products through an innovative platform-based business model,” GM China said.
Import business, with a product portfolio consisting of full-size SUVs,, pickups and productive cars, “meet the growing demand in niche markets, complementing the model and lineup of GM locally produced,” GM China said.
GM manufactures and sells Cadillac, Buick and Chevrolet cars at SAIC-GM, a joint venture it has founded with SAIC Motor Corp. in Shanghai in 1997.
There was no additional information about the import business.