September 25, 2007

GM signs US$800 million-plus agreement to export vehicles and components to China

Washington, D.C. - General Motors Corporation and its Shanghai General Motors joint venture have signed a multi-year agreement, worth more than US$800 million, to export American-built Buick Enclave SUVs and other vehicles and components to China, beginning in 2008. The Enclave is built in Lansing, Michigan.

"Shanghai GM has become a leader in the production and sale of passenger cars in China, driven largely by the success of the Buick brand," says Ding Lei, Shanghai GM president. "These new Buick premium sport utility vehicles will strengthen our line-up and enable us to continue to meet the changing needs of our growing base of customers."

The Buick agreement is the second of two China export agreements signed by GM this year; in May, the company signed a deal to export US$700 million worth of Cadillacs and components to China from the U.S. The Enclave will be imported by Shanghai GM and sold through nearly 400 Buick dealerships across China. The company also sells the Park Avenue and LaCrosse premium sedans, Regal sedan, Excelle family, and GL8 and FirstLand executive wagons.

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