General Motors Corporation opened its eighth vehicle plant in the China's north eastern city of Shenyang and said it has no plans for adding further capacity, amid slowing demand in Asia's biggest auto market. The plant is an equal venture between GM and SAIC Motor Corp., China's biggest automaker.
GM expects to boost China sales by about 9% next year, as it adds new models and an economic stimulus plan helps revive overall demand. Auto sales in China have declined in three of the past four months, because of the global economic slowdown.
As the biggest overseas automaker in China, GM is counting on emerging markets and U.S. aid to help it survive a plunge in North American sales. The Detroit-based automaker expects to sell as many as 1.2 million vehicles in China next year.
The new Shenyang plant will begin full production of Chevrolet Cruze compacts in the second quarter of next year. GM plans to introduce 10 new models in China by 2011.