Gov Motors to bulit Trucks in CHINA

chefdennis

Veteran Expediter
Gov Motors to build Trucks in CHINA

LOL!! Yeap barry takes over GM, using US taxpayer dollars, installs a buddy to run it and then they make the decision to invest in CHINA to built truck for THAT market..and maybe they can import them here....LOL!! You have got to love it..they couldn't survive without barry buying them using our money..then they use that money in China...

GM to form China venture, invest $293 million

Sun Aug 30, 2009 7:33am EDT
GM to form China venture, invest $293 million | U.S. | Reuters
By Fang Yan and Edmund Klamann

SHANGHAI (Reuters) - General Motors said on Sunday it has agreed to set up a light commercial vehicle production venture with major Chinese automaker FAW Group, with total investment of 2 billion yuan ($293 million).

The 50-50 joint venture, based in the northeast China city of Changchun in Jilin province, will make light-duty trucks and vans, GM said in a statement.

"For us in China, this is an important complement to the rest of our portfolio," Kevin Wale, president and managing director for GM's China operations, told reporters in a conference call.

"We are well established in passenger vehicles and mini commercial vehicles and we haven't had a presence in the truck segment. Adding a truck portfolio rounds that out."

The venture will use two existing FAW plants in Changchun and the city of Harbin, also in the northeast, with combined annual capacity of roughly 90,000 vehicles, Wale said.

A greenfield plant, currently under construction in Harbin, will add 100,000 units of capacity by the end of next year, he said.

Vehicles made at the venture will carry the FAW brand and will focus on supplying the China market, but they could be exported under a GM brand through the Detroit automaker's global network in the future, Wale said.

GM is making Buick, Chevrolet and Cadillac models at its flagship China venture with SAIC Motor Corp. It also makes minivans, pickup trucks and the Spark compact car in a three-way tie-up with SAIC and Liuzhou Wuling Automobile.

SAIC-GM-Wuling sold 87,925 vehicles in July, up 90.7 percent from a year earlier, helped by Beijing's stimulus initiatives to support the industry, including subsidies for buyers in rural areas.

GM, which now holds 34 percent of SAIC-GM-Wuling, has been seeking to raise its stake in the venture.

Domestic media reported earlier this month that GM had secured an initial deal to take over Liuzhou Wuling Auto's 15.9 percent stake for roughly 300 million yuan ($43.9 million).

Wale reiterated the U.S. automaker's interest in raising its stake in the venture but made no further comment on the issue.
 
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chefdennis

Veteran Expediter
Wow!! The more i think about this, this is barrys thank you to China...i mean they own us, and the money for the bailout came from China, so they are just getting their money back after we "washed" it thru the Fed....
 

davekc

Senior Moderator
Staff member
Fleet Owner
Golly gee. Who could've seen that coming? Obama bails them out with 18 billion only to have them a few months later investing millions in China. Should be within the next month or two we will hear about Chryslers new overseas investments.
 

smiley75

Seasoned Expediter
Oh well its nice to see I lost my job so some over populated country can have the food off my kids table.
 

Poorboy

Expert Expediter
Golly gee. Who could've seen that coming? Obama bails them out with 18 billion only to have them a few months later investing millions in China. Should be within the next month or two we will hear about Chryslers new overseas investments.

Chrysler is coming out with a New Vehicle and is Building it in Mexico!! Barry Strikes again! :mad:
 

Dabus1952

Seasoned Expediter
Did anyone really think bailing out the Auto Industry was going to help the USA auto workers.Chrysler was taken over by Fiat .with tons of US bail out money Only to announce they would close down the Kenosha Wi plant next year.As well as many other plants. Few weeks ago I read the engin, Kenosha was building will now be built in Mexico. Fiat needed the dealers to have a US presence.The only car company who you as Americans should be buying is Fords. They didnt ask for dime one. They are playing at some what of an unfair advantage seeing how there not GM (Goverment Money ) nor Chrysler.Of course being true Americans they sell out there own to Buy Toyota, Honda, KIA etc. Then we have Junker or Clunker programs instead of saying you need to buy Ford , GM, Chrysler.No send more money to Japan or China .Next month we can have clunker appliance program Maybe we can buy China made washing machines.driers, refridgerators or dish washer.So more American compaines can close there doors.Yes sir Welcome to America.
 

greg334

Veteran Expediter
Buying a Honda, Toyota, KIA products put Americans to work. These companies have made commitments to the country by building plants here and making a presents know by using other American companies as suppliers.

Buying a product that is made here but the company is in Japan doesn't do as much hard as what GM and others have done by building in Mexico. When you talk about money going back to the home country, we tend to forget what if they just imported the products instead, would there be the money into the communities that these plants are in?

Irregardless if Ford is the only one not to take the money, they nevertheless have not committed themselves to expanding within our borders and act the same as Gm and the now again foreign Chrysler - their next generation base product line is being built in Mexico, not here.

If it was up to me, GM and Chrysler and the UAW would have gotten Zero.
 
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