Global Network
GM Korea announced on April 26 that the company visited its Chinese joint venture Shanghai General Motors (GM) along with its 32 subcontractors and held an event to help its domestic subcontractors tap into the Chinese market, including business meetings with buyers.
The company hosted the event from April 22 to 24 and ran various programs to provide support for domestic subcontractors to make inroads into the Chinese market, including visits to local Korean companies and automakers and seminars about the Chinese auto market and investment.
Edvaldo L. Crepaldi, vice president of the purchasing division at GM Korea, said in the event, “Among 78 businesses that were selected as the subcontractors of the year by GM in Detroit of the U.S. in March, 28 are Korean businesses. The superior quality and technology of Korean companies are appealing enough to attract Chinese automakers.”
Shanghai GM is a joint venture between General Motors Company and Chinese state-owned automotive manufacturing company Shanghai Automotive Industry Corporation (SAIC) Motor, that has a lineup of more than 20 products. It manufactures and sells Buick, Chevrolet, and Cadillac brand automobiles in mainland China. As Shanghai GM sold approximately 1.71 million units in 2014, which was its highest sales record since its foundation, this would be a great business opportunity for the domestic subcontractors of GM Korea.