GM builds new car in China for emerging markets
Pan Asia Technical Automotive Center (PATAC), an r&d center jointly run by General Motors and Shanghai Automotive Industry Corp., plans to launch an inexpensive car targeting China and other emerging markets.
The new car is due out sometime in the second half of this year and will target the mass market, Shanghai GM said in a press release on June 2.
At a media briefing held on the same day after GM filed for bankruptcy protection in the United States, Kevin Wale, president of GM China, declined to give further details of the new car.
At a media briefing held on the same day after GM filed for bankruptcy protection in the United States, Kevin Wale, president of GM China, declined to give further details of the new car.
But supplier sources say the car, codenamed NGS, will be sold in China and other emerging markets including the Middle East at cheaper price than the Chevrolet Lova.
In China, the Lova has a starting price of 71,900 yuan ($10,527).
The new car will offer 1.2- and 1.4-liter engine options. It will carry the Chevrolet brand, supplier sources say.
GM exported around 20,000 units of its China-made Lova and Aveo to Eastern Europe and South America in 2008, according to Global Insight, a consultancy.
