US auto giant General Motors said on Tuesday that it will boost its exports of US-made vehicles and auto parts to China by more than $800 million, beginning in 2008.
The deal includes the Buick-branded sports utility vehicle, known as
the Enclave in the US. The vehicle will be imported by Shanghai GM,
GM's joint venture with SAIC Group, China's largest automaker, and sold
through its network of nearly 400 Buick dealerships across China, GM
said in a statement.
"These new Buick sport utility vehicles will strengthen our line-up and
enable us to continue to meet the changing needs of our growing base of
customers," Shanghai GM President Ding Lei said in the statement.
The Buick agreement is the second China export agreement signed by GM
this year. In May, the company signed a deal to export $700 million
worth of luxury sedan Cadillacs and auto components to China from the
US.
GM and its joint ventures in China sold a record 876,747 units in 2006,
up 31.8 percent from the previous year. GM has an estimated 11.8
percent share in the fast-growing market, the company said in January.
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