General Motors plans to invest between $5 billion and $7 billion in a bid to double what are already record sales in the booming Chinese automotive market.
Last October, the maker became the first ever to top 2 million sales in China during a single year, ending 2010 with a grand total of 2.35 million. But the carmaker’s top China hand says the goal is to pump that up to around 5 million units by 2015.
The new Chevrolet Malibu, getting its official launch at the 2011 Shanghai Motor, is one of the keys to GM’s planned growth.
“We have set some aggressive goals with our five-year plan,” said GM China President and managing director Kevin Wale. “We are confident that we will achieve every one of our goals by providing local consumers great products and compelling designs relevant to the China market and by following our strategy of working in China, with China, and for China,” he said during the opening of the 2011 Shanghai show.