Obama’s close friends at General Motors–derided for years a Government Motors–has now announced that, after taking billions in federal tax dollars to “save” themselves from bankruptcy, they are now going to build a Cadillac manufacturing plant… in China.
Many are worried that the US worker is a dying breed and with GM deciding to expand in China as it withdraws in America one has to wonder.
This month, GM announced that the Chinese government gave the car maker approval to build a new $1.3 billion plant in the People’s Republic. GM claims it intends to take advantage of the emerging luxury car market in the communist nation.
The plant is to be built starting in June in Jinqiao, Shanghai where GM’s Shanghai GM and GM China headquarters are located.
Cadillac sold only 30,000 cars in China last year but hopes to raise that number to 100,000 once the new plant is up and running.
Cadillac is lagging behind in sales compared to BMW and Audi. For every one Caddy sold in China, BMW sells 6 and Audi 9.
“There are a lot of young and affluent buyers out there interested in buying luxury cars,” GM’s China spokesman Dayna Hart told the media.
GM became an issue during the late presidential election when Mitt Romney criticized Obama for having failed to address the troubles in Detroit sooner than he did.
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