General Motors Company (NYSE:GM) president Dan Ammann said today that the company and its local partners are boosting production capacity for GM vehicles in China to 5 million.
At the Beijing auto show, Ammann said that the company expects sales of its Cadillac vehicles to double to 100,000 next year. General Motors and its Chinese partners are in the middle of a $12 billion investment program through 2017. This investment also includes three factories due to open this year and two more next year.
These 5 factories would increase production of GM-brand vehicles in China to 5 million. General Motors would be taking on Volkswagen AG to become the most popular vehicle brand in China.
General Motors builds sedans, minivans, and pickup trucks through joint ventures in China, including a partnership with Shanghai Automotive Industries Co. and Liuzhou Wuling Motors Co. Baojun is a low-cost brand that the three companies launched together.