Sunday, April 21, 2013

Obama's GM outsourcing to China

Nothing like bailing out and taking over a company that then goes to China.

From the Argus

SHANGHAI — Detroit-based General Motors Co. plans to open four new assembly plants in China by the end of 2015, export more vehicles from China, and grab market share in the sport utility and luxury segments, executives said.
The automaker said it would increase its production capacity by 30 percent to 5 million units per year. The company also said it would add 6,000 jobs in China in connection with its expansion plans, which include four new assembly plants and four new powertrain plants, GM Chinese President Bob Socia said.
Socia declined to say where the plants would be located, but GM will need approval from the Chinese government to move forward.
He also said the company hasn’t ruled out exporting vehicles from China to the United States.
“It could very well happen,” Socia told reporters after a news conference near the Shanghai auto show last week. “I’m not sharing any plans with you, but we try to keep open as to what makes sense. … There’s no reason why we can’t be exporting to the states.”

Of course this was after the 2012 election.

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