AUSTRALIA: GM's Holden clinches China car design deal
General Motors' Australian unit Holden will develop at least two new car models for China after sealing a deal with GM's Chinese partner.
The deal with China came after Holden secured a A$275m (US$285m) funding package from the Australian government, which is determined to keep the industry afloat and protect manufacturing jobs, Reuters reported.
Together with the government funding, GM also pledged A$1 billion investment in Holden.
Holden signed the agreement with Shanghai General Motors (SGM) and the Pan Asia Technical Automotive Centre, a joint venture between GM and Shanghai Automotive Industry Corp, on Monday, to develop at least two new models for SGM and its affiliates in China, the news agency said.
The new models will be designed at Holden's technical centre, based in Port Melbourne, and built in China.
The fragility of the automotive supply chain has been highlighted by natural disasters, particularly in Asia over the past 18 months. This month's management briefing considers how fragile the supply ...
New vehicle sales in the Philippines increased 2.4% year on year to 12,555 units in September from 12,856 units last year, according the Chamber of Automotive Manufacturers of the Philippines (CAMPI)....
Over 2,000 workers at General Motors' Opel/Vauxhall plant in Ellesmere Port, northwest England, are moving to a four-day week as a cost-cutting move....
In its clearest signal yet that it wishes Cadillac to become a global luxury brand, General Motors has switched its chief lobbyist to a new position as head of the division....
- ANALYSIS: VW Group - success and succession
- ANALYSIS: Depressed Thai market forces rethink
- THE WEEK THAT WAS: GM, FCA, axe plant, Chrysler UK
- ANALYSIS: UK supplier industry perks up
- Q&A with Victrex
- Jaguar unveils second generation XF in London
- Jaguar Land Rover announces Whitley R&D expansion
- EU 2021 CO2 targets will be difficult for premiums
- New York show debuts: Range Rover Sport HST added
- ChinaChem to buy Pirelli tyres in US$7.7bn deal