GM: China ‘Crown Jewel’ in Future Plans

Topics:  General Motors

VOA Breaking News
Voice of America
February 15, 2011 at 1:20 pm

U.S. automaker General Motors says it is hoping to further capitalize on China’s emergence as the world’s largest market for automobiles.

Calling China “the crown jewel in the GM universe,” GM Chief Executive Daniel Akerson told reporters in Beijing Tuesday the company plans to introduce 20 new or upgraded vehicles into the Asian economic giant over the next two years. Akerson says he believes China will be the highest growth area in the world during “the next 10, 20, 30 years.”

GM sold 2.35 million cars and trucks in China in 2010, more vehicles than it sold in the United States.

The company is turning more of its attention toward China as it continues its recovery from bankruptcy and near-collapse in 2008 during the global economic downturn. The recovery has been aided by an emergency loan from the U.S. government.