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GM's foreign investment in India and China staggering


Gorehamj

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John Goreham

Contributing Writer, GM-Trucks.com

8/24/2015

General Motors is investing $1 Billion in India to make the region its "Global Export Hub." This according reports in Financial Times. GM is hoping to boost its tiny two-percent market share in that country's auto market and to also build cars inexpensively for export from India to other markets. GM plans to locally produce Chevy models specific to the needs of the region.

 

GM is also planning to invest about a half-billion U.S. dollars in a joint venture in China to produce green cars. All automakers doing business in China are required by Chinese law to have a Chinese-owned J.V. partner. Just as an aside, image how quickly our economy would be boosted if we required the same of any Chinese company doing business in the U.S. The Economic Times reports that the plant GM is planning would be able to produce 200,000 green cars per year. Just to give some perspective on that number, there were only 123,000 electrified vehicles sold in all of the U.S. market in 2015, and that number is not increasing. The Toyota Prius hybrid, the best-selling green car on the planet, sells at about a 200,000 unit annual pace in the U.S.

 

Vehicle image is the Chevy Sail EV.

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Shame on GM!

The Canadian and U.S. Governments (really the taxpayers) bail you out ánd then you take your business and investments else where.

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