GM Launches Venture To Build Trucks In China

General Motors Co. announced a new joint venture in China to make light-duty trucks as part of an effort to penetrate further into China's vibrant auto market, a key strategic focus for the recently restructured car maker.

GM announced Sunday the 50-50 joint venture with FAW Group Corp., a major Chinese state-owned auto maker. The two companies are making a combined investment of 2 billion yuan ($293 million) for the new company, and will significantly expand FAW's existing light commercial truck business, GM said.

The venture, based in the northeastern Chinese city of Changchun in Jilin province, has two existing assembly plants and is moving to add another, capable of producing 100,000 vehicles a year, by the end of 2010, said GM China President Kevin Wale.

The new plant would push the joint venture's annual capacity to 200,000 trucks -- more than double what it expects to sell this year.

The new venture gives GM's expanding China business a 'very important' foothold in a segment that is 'growing rapidly,' Mr. Wale said in a conference call with reporters.

China's light commercial truck market represents more than 50% of global light commercial vehicle sales and is 'clearly a key focus for future growth for GM,' he said.

Light commercial truck and van producers in China shipped a total of 769,000 vehicles during the first seven months of the year, GM said.

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