Skip to comments.GM to invest $12 billion in China and plans more plants
Posted on 04/20/2014 6:59:48 AM PDT by Oldeconomybuyer
U.S. car giant General Motors Corp (GM) (GM.N) plans to invest $12 billion in China from 2014 to 2017 and build more plants next year as it steps up its presence to compete with aggressive rivals in the world's largest auto market.
GM plans to build five more plants in China next year, as part of its efforts to ramp up manufacturing capacity there by 65 percent by 2020, executives said on Sunday.
The five plants will be in Wuhan, Chongqing, Jinqiao and Shenyang. Four of those will be vehicle assembly plants, while the fifth one will be an engine plant in Shenyang.
(Excerpt) Read more at reuters.com ...
score one for Romney
GM will be bankrupt again by 2017.
I hope their bankruptcy follows the law this time and doesn’t cost taxpayers anything.
Romney was right about things a lot more than Obungler is.
Especially if they're depending on folks like me to buy one of their cars.
They won’t even be allowed to seek bankruptcy protection again this soon.
The lawsuits over the defective ignitions will cause them to fold.
Bankruptcy wouldn’t protect them from criminal actions anyway, which is exactly what hiding the known defects was.
I forgot about the ignition switch thing, that will cost them billions. It should be interesting to watch.
GM took Goverment Bailout
UAW - DNC workforce
CM - Chinese Motors
Those plants will be taken over by peoples’ committees in short order.
“Bankruptcy wouldnt protect them from criminal actions anyway, which is exactly what hiding the known defects was”
And in 2009 the GM and Chrysler Bond holders by law were to be the first to me made whole(in as much as possible) They got nothing, the Unions near everything. Odumbo the POS doesn’t give a damn about the law.
Made in China is a death sentence. No way will I buy from them!
Not that I needed any more reasons to boycott GM.
But Romney would have been just as bad, so I voted third party and/or stayed home. We may have four more years of Obama, but at least I didn't help the GOPe's anointed one become President. That'll teach the GOPe to nominate a RINO even though a real Conservative won the primaries.
Jeez, a Chinese built Chevy Volt! What could go wrong??
GM / Chinese corporation bump for later.....