General Motors’ South Korean unit said it would spend US$5bn during the next three years to increase market share, according to Agence France Presse.
The investment apparently includes the cost of developing new models as well as expanding and improving the company’s service centres, GM Korea vice president Ankush Arora was quoted as saying by AFP.
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“You certainly need great products, but the formula of success is a combination of many factors,” he said to Yonhap news agency.
Arora added the company’s market share would “for sure” reach double-digits this year for the first time.
