General Motors Corp yesterday launched its new research and development center in Shanghai by signing land-leasing contracts with two local companies.
The world's largest car maker reached agreement with authorities in the Shanghai Jinqiao Export Processing Zone to locate its GM Center for Advanced Science and Research, in the city's major export hub in Pudong.
The engineering center is part of a US$250 million GM campus in Shanghai that is scheduled to be completed at the end of next year, said Kevin E. Wale, president and managing director of GM China.
By then the GM Campus will also be the headquarter for GM China and the Asia Pacific region.
GM has been increasing its investment and has localized its R&D capability in China to develop alternative fuels in the world's second largest car market. Rick Wagoner, the chief executive officer of GM, said earlier that China had the potential to be a leader in adopting alternative propulsion systems.
(Shanghai Daily March 21, 2008)
