GM Looks Overseas For Opportunities
by KBB.com Editors | November 18, 2008 4:43 AM
While General Motors is struggling in the U.S., it's looking to expanding markets overseas. GM just spent $300 million to expand its factory in St. Petersburg, Russia. The plant now has the capacity to build 170,000 vehicles a year, and will build the Opel Antara and Chevrolet Captiva sport utility vehicles as well as the Chevrolet Cruze and Opel Astra sedans. "Russia is poised to become Europe's No. 1 car market for GM as early as 2009," said Carl-Peter Forster, president of General Motors Europe. "(GM) is the leading non-Russian manufacturer. That's a position we aim to keep." GM already has a joint venture plant in Uzbekistan, which has the potential capacity of a quarter-million vehicles a year. GM also operates two manufacturing plants in India, and has five joint-venture manufacturing plants in China, all in addition to plants in South Korea, South America, Africa and Europe.