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GM Spending Billions to Tap Luxury Car Market in China

Posted: Jun. 25th, 2013  |  By DailyLuxe News

Photo: Global Press

GM is committed to spending heavily in China, the world’s second largest luxury automobile market, to increase its market share in the country, reports the Global Press.

The automaker wants its luxury brand, Cadillac, to be a major player. That is whyGM has spent about $1.3 billion on a new R&D facility in Shanghai, China, and plans on spending upwards of $11 billion overall. The plan is to compete directly with Audi, BMW, and MBZ and expand is market.

GM's goal is to increase its annual sales in China to 100,000 cars by 2015. 

The Detroit manufacturer made the announcement as it broke ground on a new Cadillac plant and a new research facility. The structures represent a total investment of $1.3 billion and will occupy a total area of about 8 million square feet.

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