General Motors Chairman and CEO Mary Barra shared her insights during an interview with reporters in Shanghai on the 30th, expressing confidence in the long-term potential of the Chinese auto market despite recent slowdowns in overall growth. Barra, who is attending the 16th Shanghai Mayor International Entrepreneurship Consultation Conference as its chairman, emphasized that GM remains committed to the Chinese market and its future development.
During her visit, she signed a memorandum of understanding (MoU) with SAIC Motor Corporation for a clean energy vehicle project, marking a significant step forward in their collaboration. Barra announced in June that GM plans to invest approximately $3 billion over the next few years, aiming to expand production capacity, product lines, powertrains, and local engineering and R&D capabilities in China.
She highlighted that this new partnership will open up opportunities in emerging technologies and reaffirm GM’s dedication to the long-term stability and growth of the Chinese automotive industry. Despite short-term fluctuations in market performance, Barra stressed that the auto sector is inherently a long-term business, and GM's commitment to China has not changed.
Barra also mentioned that the relocation of GM’s Asia Pacific headquarters to Shanghai underscores the importance of China in the company’s global strategy. This move aims to better leverage local opportunities and accelerate GM’s growth in the region.
Additionally, GM Vice President and Asia Pacific President Zhuo Yikai reiterated that the fundamental support for the Chinese auto market remains strong, and the company’s investment plans are progressing smoothly. He expressed hope that through continued investment, GM will play an active and vital role in the long-term development of the Chinese market.
Barra concluded by stating that while the overall sales growth in China has slowed, GM’s sales in the country continue to rise. She remains confident that the market will regain momentum soon and that GM will be well-prepared to capitalize on this recovery.
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