Business / Auto China

Shanghai GM to invest $16b between 2016 and 2020

(Xinhua) Updated: 2015-04-21 10:52

Shanghai GM to invest $16b between 2016 and 2020

The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August 25, 2009. [Photo/Agencies]

SHANGHAI - Shanghai GM, a joint venture between SAIC Motor and General Motors, said on Monday that it will invest 100 billion yuan ($16 billion) between 2016 and 2020.

At the Shanghai Auto Show, the company announced 10 new models each year during the five-year period. At least 10 of which will be new energy vehicles.

In its 2020 strategy, it plans to have a more than 10 percent share of the world's largest auto market with 40 product lines.

By 2020, it also plans to cut fuel consumption in its vehicles by 25-30 percent. Consumption has already been cut by 13.5 percent from the 2009 level.


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