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General Motors is forming a separate business unit in Shanghai’s Pudong New Area to expand Chinese imports of some of its most popular and profitable vehicles built and sold mostly in North America.
The Detroit automaker signed a letter of intent with the Pudong New Area government to invest $100 million in the new business, GM’s China unit said
Thursday.
“The new Premium Import business, tailored for China, will present a curated collection of iconic GM products through an innovative platform-based business model,” GM China said.
The import business, with a product portfolio comprised of full-size SUVs, pickup trucks and performance cars, will “address evolving demand in the niche market, complementing GM’s locally produced model and brand lineup,” GM China said.
GM produces and markets Cadillac, Buick and Chevrolet cars and light trucks at SAIC-GM, a joint venture it established with SAIC Motor Corp. in Shanghai in 1997.
Additional details on the import business were not available.
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