General Motors Chairman and CEO Mary Barra expressed her confidence in the long-term prospects of China’s automotive industry during an interview with reporters in Shanghai on the 30th. Despite a recent slowdown in overall market growth, she emphasized that GM remains committed to its strategic vision for China. Barra was in Shanghai to attend the 16th Shanghai Mayor International Entrepreneurship Consultation Conference, where she served as chairman. During her visit, she also signed a memorandum of understanding (MOU) with SAIC Motor Corporation regarding a clean energy vehicle collaboration.
In June this year, GM announced plans to invest approximately $3 billion over the next few years to expand its production capacity, product range, and powertrain offerings in China. The company is also enhancing its local engineering and R&D capabilities. Barra highlighted that this MOU marks a significant step toward future technological cooperation, reinforcing GM’s long-term commitment to the Chinese market.
She reiterated that while short-term fluctuations are expected, the automotive industry is fundamentally a long-term business. GM’s confidence in China remains strong, and the company is actively expanding its operations. Barra is optimistic that the market will soon regain momentum, and GM is preparing to capitalize on this recovery.
During her trip, Barra met with local leaders from SAIC and reviewed the performance of GM’s operations in China. She also mentioned that the decision to relocate 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 strengthen GM’s presence in the region.
Barra emphasized that the key focus this year is to deepen the partnership with SAIC, including joint ventures such as Shanghai GM and the Pan Asia Automotive Technology Center. The collaboration has already led to the launch of three new joint ventures, with continuous expansion of product lines.
Additionally, GM Asia Pacific President Zhuo Yikai echoed Barra’s sentiments, stating that the fundamentals supporting China’s auto market remain unchanged. He confirmed that GM’s investment plan is progressing smoothly and that the company is determined to play a vital role in the long-term development of the Chinese market.
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