GM Sets International Operation Base in Shanghai

General Motors Corp (GM) CEO Fritz Henderson said on July 10 that the company would settle its global operational base in Shanghai, which is second only to the Detroit Headquarter in significance.

The reconstituted new GM, emerged from bankrupcy on the same day, has withdrawn all its previous regional operation establishments in Latin America, Europe, North America and Asia Pacific and will set up a new global operational base in Shanghai instead.

Nick Reilly, formerly president of GM Asia Pacific, will take responsibility for the new international operations base.

The establishment of GM's operation base in Shanghai demonstrates the emphasis GM has placed on Chinese market, the company said in a statement. The new base is expected to start operation formally by the end of this year.

GM reported its sales in China surged 38% in the first half to a record 814,442 units. In 2008, its sales in China grew 6.1% to 1.1 million units.

GM China President Kevin Wale said last week the company is expecting its sales volume growth in China to exceed 20% this year, sharply higher from 2008.