governmentyear government motors to build Cadillacs in China
General Motors Co. announced Monday at the Beijing auto show that it will begin building its all-new 2013 Cadillac XTS sedan in China this year and later will build the ELR luxury electric coupe in the country.
The production announcements mark a significant step in GM's push for Cadillac to become a global brand.
"Introducing the XTS is part of our strategy of adding one new model per year to our Cadillac lineup in China through 2016 to address the needs of luxury car buyers nationwide," GM Chairman and CEO Dan Akerson said in a statement.
ELR technology details, production location and its Chinese introduction date will be announced at a later time, according to a news release. The XTS will be available in the fourth quarter in China and will be manufactured by Shanghai General Motors, a partnership between GM and SAIC Motor Corp.
The announcement follows a report earlier this month in The Detroit News that GM was expected to announce at the auto show that it would build XTS in China later this year. Joel Ewanick, GM's global chief marketing officer, also told The News that the all-new Cadillac ATS, a compact luxury sedan, and the popular midsize CTS sedan will eventually be built in China.
Ewanick said GM will build its brand in China and then Europe to grow the brand over the next decade.
Currently, only the Cadillac SLS, an extended length luxury sedan, is built in China. Cadillac imports the CTS, SRX crossover and Escalade from plants in the United States and Mexico.
GM began selling Cadillacs in China in 2004. Sales have grown from essentially zero at the end of 2007 and early 2008 to 30,000 last year. Its 2011 sales were up 72.8 percent from 2010.
Cadillac also expects to double its dealer network of about 50 in China in the next year or two, Cadillac spokesman David Caldwell previously has told The News.
OCD_OCD: Why? Taxpayers bail them out, now are the majority shareholders and the jobs are sent to China. does anyone else find this offensive?
And jobs continue to leave the US, and from a company bailed out with taxpayers dollars. Great, just great.
Sarcastic Dots: This isn't a new thing. Ford and GM have had factories all over Europe for the past two decades, if not more. Where the European Union is concerned, it is hugely advantageous to build cars within the union, due to the tax breaks, lower shipping costs and huge subsidies offered to businesses that operate within the EU. I can't speak for China, but one assumes that cheaper labour, as ever, is the reason for the exportation of jobs.
If you're asking why companies that were bailed out don't have any contractual obligations to remain within the US, I'd have thought that was pretty obvious; The American people would find it unacceptable to place regulations upon a company, let alone nationalise it- I mean, that's probably what should have happened, but big business has a "socialist when it suits them" attitude... They'll gladly cry foul of socialism until they need money, and now we are returning to the norm. They have the money, so now socialism is bad again... Until they need money AGAIN in 40/50 years.
OCD_OCD: Ford did not get, nor did they ask for any bailout money. The reason given for the bailout of GM was that we needed to keep US car companies and to save American jobs.
OCD_OCD: But during the bankruptcy filing the Administration bypassed the bankruptcy court by illegally deciding which bondholders, shareholders and investors would be paid and which would not. This was completely illegal.
Sarcastic Dots: Oh, I know. I actually ended my last message with "Americans make crap cars, the only American car manufacture worth a damn is Ford ;]" and removed it, but I decided against it. Still true, though. Gm make legendarily bad cars.