April 22, 2009

GM to Shut US Production, Build 8th Factory in China

According to "sources" quoted by the AP, GM will shut down all factories in the USA for 9 weeks around the traditional model year production shift in July. GM's plan for survival is due to Congress on June 30. Meanwhile, the Wall Street Journal cites GM China head Kevin Wale saying the company will need an additional car plant in China - its 8th - in order to meet its ambitious goal of selling 2 million cars a year in its most important market...

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