General Motors To Offer Hybrid Car in China
By Bloomberg News | April 21, 2008
General Motors Corp., battling to remain ahead of Volkswagen AG as the largest overseas vehicle maker in China, plans to offer a hybrid car in the market to help keep its sales lead.
"The automaker that gets China right will be the future leader of the industry," the chief executive officer of GM, Rick Wagoner, said yesterday in an interview at the Beijing Auto Show. "We've got to bring our best game here."
Crude oil has risen 85% to a record $116.69 a barrel over the past 12 months, spurring demand for fuel-efficient vehicles. Detroit-based GM's sales growth in China slowed to 7.4% in the first quarter as Volkswagen and Toyota Motor Corp. won customers with new models.
