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Recently, the GM head came to his favorite market China in a special trip, revealing that cooperation will be enhanced with Chinese automakers. Under his leadership, General Motors is carrying out large-scale buyouts and production reduction.
In terms of product line, the company will develop renewable energy vehicles in the long run, and mini cars in the short run, as a measure to combat the hovering oil price.
In 2010, General Motors' green energy cars will debut at the Shanghai World Expo. So, the company is busy making breakthrough, with great confidence in the future.
Wagoner discloses that General Motors will display new energy technologies at the Expo, and make contributions to reduction of the world's carbon dioxide emission. The company has been looking for possible solutions to the commercialization of different substitutive energy around the globe.
Recently, Shanghai General Motors Co. Ltd. (Shanghai GM), a joint venture between Shanghai Automotive Industry Corporation (Group) (SAIC) and General Motors, promoted Buick LaCrosse Eco- Hybrid, which is able to save oil by over 15%.
The company is also developing cell cars that are likely to suit China, and technologies of electronic energy, hydrogen energy and other substitutive energy that are expected to replace gasoline, released Wagoner, who points out that it is still unknown when cell will take the place of gasoline worldwide.
Since the commercialization of cell technology is in the indefinite future, General Motors has two strings to its bow, one is to cater to the demands of customers, and produce oil- saving cars. In the 19 car models to be promoted, 18 are compact cars and crossover cars. Fuel oil economy technology will also be developed.
As before, Wagoner shows great enthusiasm towards the Chinese market. As a return, General Motors totally sold 590,126 vehicles in the Chinese Mainland market in the first half of 2008, rising 12.7% from a year earlier, and taking the first place.
Since General Motors set up its first venture in China, its cooperation with SAIC has been a success. Buick, the first among the six pillar brands that the auto giant has brought to the Chinese market, has performed better in China than in the US.
Chevrolet debuted the Chinese market later, and is potential to become a competitive nameplate in the country. High-end trademark Cadillac grows well, and China is hopeful to become its second largest market around the world.
Wagoner is satisfied with the performance of SAIC-GM-Wuling Automobile Co., Ltd. (SGMW), a venture with Chinese carmaker Wuling Automobile Co., Ltd., whose vehicles have been exported to South America. General Motors' other two brands, Saab and Opel, have a narrower market, because they meet more individualized demands.
(USD 1 = CNY 6.85)
From www.cnstock.com, Page 1, Friday, September 12, 2008 info@SinoCast.com
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