GM makes $1.3B Cadillac bet on China with new factory

SHANGHAI: General Motors (GM) will build a $1.3-billion Cadillac plant in Shanghai after China approved the project, the carmaker said last week as it seeks more luxury sales in the world’s biggest car market.

Construction of the plant—which will have an annual capacity of 150,000 vehicles—will start in June, GM said in a statement. The factory, the first in China dedicated to making Cadillacs, will come under Shanghai GM, a joint venture with China’s SAIC Motor.