China will continue to be a major factor in General Motors' bid to return to profit, Fritz Henderson, its newly appointed president and chief operating officer, said in Shanghai yesterday.
And the world's largest auto maker also opened up the possibility of selling its Hummer brand to a Chinese company.
"If any Chinese companies are interested in buying Hummer, it will be certainly an option for us to look at. We need to open for all ideas," he said.
Henderson was making his first trip to China since he took up his post in March.
A continuing interest in the Chinese market, as well as other emerging markets such as Russia and Latin American, is a top priority for GM, which is struggling to cover the slump in the United States in order to retain its lead over Toyota.
Customers have shunned GM's gas-guzzling sports utility vehicles and shifted to fuel-efficient compact cars amid record high fuel prices, leaving GM in a loss-making situation over the past three years.
GM has pledged to invest US$1 billion a year with its partner in China to add new products and expand production. It is currently cooperating with the Shanghai Automotive Industry Corp to run a passenger car venture and a light commercial vehicle venture with a combined market share of 12 percent.
Henderson's trip comes just 10 days after GM introduced a restructuring plan which includes closing four truck plants and making a new generation of compact cars with smaller capacity engines.
(Shanghai Daily June 13, 2008)
