GM expects competitive Chevy Volt pricing in China - Yahoo! News
Description: General Motors expects competitive pricing for its electric Chevrolet Volt in China as it hopes to gain a foothold in China's fledgling environmentally friendly car industry with the highly anticipated car.
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#### 5 YEARS AFTER KATRINA:Special report includes slideshows and multimedia

# GM expects competitive Chevy Volt pricing in China

Reuters – Dan Akerson poses for a portrait at General Motors headquarters in Detroit, Michigan, August 31, 2010. …

- Slideshow:General Motors Corp.

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– Tue Aug 31, 7:21 am ET

SHANGHAI (Reuters) – General Motors expects competitive pricing for its electric Chevrolet Volt in China as it hopes to gain a foothold in China's fledgling environmentally friendly car industry with the highly anticipated car.

Kevin Wale, president and managing director of GM China, said the launch of Chevrolet Volt, expected in the second half of 2011, is key to the Detroit-based carmaker's broader strategy to grow its electric car business in China after Beijing unveiled subsidy measures for the sector.

Wale said the selling price of Chevrolet Volt in China will only be unveiled when it is officially launched.

"I believe the pricing will be competitive," he told a news conference in Shanghai on Tuesday.

In July, GM said its electric Chevrolet Volt will be sold in the United States at $41,000 -- $8,000 more than its nearest competitor, the Nissan Leaf.

The U.S. automaker expects to produce 10,000 Volts for the 2011 model year and about 30,000 for 2012.

China will spend more than 100 billion yuan ($14.70 billion) to subsidize the electric car industry over the next 10 years, local media reported.

"China is the country that needs to move to electrification more than any other country and we know the government wants to move to electrification so we want to participate in that movement," Wale said.

However, the Chevrolet Volt will likely face fierce competition in the domestic market where smaller rivals are making and selling similar products at a much lower price.

Chinese carmaker BYD, backed by U.S. billionaire Warren Buffett, said it plans to export large quantities of its E6 electric car in the United States where it will be competing head on with the likes of Nissan's Leaf and GM's Volt.

Despite rising competition, Wale said GM China has not sacrificed its profitability for sales growth.

"It's our responsibility to be successful in China, successful means to grow volume in China, and successful means to generate profitability for our shareholders and to generate enough cash to be reinvested in our business," he said.

"We are doing all of those and we are going to continue to run a strong, balanced business in China and we will continue to grow," he said.

($1=6.802 Yuan)

(Reporting by Soo Ai Peng; Editing by Jacqueline Wong)

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### 20 Comments

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- 1 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 0 users disliked this comment
  Harley 4 hours ago Report Abuse

  > GM you may as well move to China, your done here. You have progressively ruined the top car maker in the USA. good job jackholes.

- 0 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 0 users disliked this comment
  Jack 5 hours ago Report Abuse

  > China is non union. Export Volt to the USA.

- 1 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 0 users disliked this comment
  tommy 5 hours ago Report Abuse

  > so the american tax payer is going to subsidize the car for the chinese to buy. wonderful.

- 3 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 1 users disliked this comment
  Robert 7 hours ago Report Abuse

  > GM moved their Buick City Complex to China at least 15 years ago guess they maybe able to sell something there as they are done here

- 5 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 3 users disliked this comment
  Tobor 8 hours ago Report Abuse

  > Don't buy GM, they haven't made a quality vehicle in decades. Junk just plain junk.

- 2 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 7 users disliked this comment
  meltrobe 8 hours ago Report Abuse

  > That is only because the Chinese people don't know it is a product of obamamotors, or government motors. If they couldn't sell the car overseas, then the car would not sell. I will not buy an obamamotors car. I am looking for safety and will not support government motors in any way. Just kind of curious here, we have not heard anything else about unhealthy obamacare. Why build an death trap like the volt, when the messiah is trying to keep people healthy so his obamacare would work? Why did I call it a death trap? It is made by government motors and obamamotors. Enough said. Only the sand headed liberals would still support the lord god almighty obumbles including buying an obamamotors "car."

- 6 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 2 users disliked this comment
  Mr. Happy 8 hours ago Report Abuse

  > GM is no longer a relevant company. It will continue to die a slow dead until all support is taken away. May GM RIP.

- 2 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 0 users disliked this comment
  Robot B9 8 hours ago Report Abuse

  > Why are they comparing the Leaf to the Volt?
  > Leaf is just a plug in electric car, it has limited range.
  > Volt is an electric car with a built in gasoline engine driven electrical generator. It has unlimited range.

- 4 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 1 users disliked this comment
  dailybigot.com 9 hours ago Report Abuse

  > Volt will be a failure in China, Leaf will still be alot cheaper. GM isnt the brightest group

- 1 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 3 users disliked this comment
  Alfred 10 hours ago Report Abuse

  > It is my opinion that it cost them 1k per car and profit of 39k per car in up front cost then
  > that interest for 7 years to the banks whew! 100k for a car? GET REAL GM!

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