Gasgoo.com (Shanghai May 9) - GM has received approval from the National Development and Reform Commission for its proposal to build an eight billion yuan ($1.29b) Cadillac factory in Shanghai's Jinqiao district, auto.sina.com.cn reported today. The news is more evidence of GM's desire to further penetrate the Chinese luxury vehicle market.
GM announced plans to establish a Cadillac factory in Shanghai as early as last April. According to GM China Spokeswoman Dayna Hart, GM holds high prospects for future growth in the country's luxury automobile market, and hopes to increase its share in the segment.
