GM South Korean unit to spend $7.3 billion to expand

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Thread: GM South Korean unit to spend $7.3 billion to expand

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    GMI Canada Editor Premium Member ne_one's Avatar
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    GM South Korean unit to spend $7.3 billion to expand

    GM South Korean unit to spend $7.3 billion to expand
    Automotive News
    February 22, 2013

    General Motors Co.'s South Korean unit plans to invest 8 trillion won ($7.3 billion) over five years to expand in a country where it made four of every 10 Chevrolets sold worldwide last year.

    GM Korea Co. will boost manufacturing facilities and double the size of its design center this year to the company’s third-largest after U.S. and Brazil, the company said in an e-mailed statement.

    The automaker is increasing investment at the unit from 1 trillion won a year as it starts building new models to compete with a resurgent Toyota Motor Corp. The maker of the Prius regained the top spot in global sales from GM last year.

    Full article at link.

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    Re: GM South Korean unit to spend $7.3 billion to expand

    Well, that's a pretty tidy sum. Say, could we pay off our debt in won? A trillion here, a trillion there...

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    Re: GM South Korean unit to spend $7.3 billion to expand

    See Korea in your Chevrolet
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    See the craters and the canyons where the waterfalls run
    Nevada, New Mexico, Arizona, Idaho
    Let every state in this union seep down deep in your souls
    And you’ll die in your footsteps
    Before you go down under the ground

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    Re: GM South Korean unit to spend $7.3 billion to expand

    Who was it that benefited from the bail out at GM again?

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    Re: GM South Korean unit to spend $7.3 billion to expand

    The design center that turned the Orlando concept into a weird bubble look? Oopsies.
    AWD wagons
    The Opel Astra and VW Scirocco need to be in North America.
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    Re: GM South Korean unit to spend $7.3 billion to expand

    GM will invest where it has the best opportunities to expand. The US is no longer GM's biggest market, and the US market is not expanding, so it makes sense to invest where it has the biggest global opportunity, which is the Asian markets.

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    Re: GM South Korean unit to spend $7.3 billion to expand

    Quote Originally Posted by hunchman View Post
    Who was it that benefited from the bail out at GM again?
    Anyone who managed to keep their job, thats who.

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    Re: GM South Korean unit to spend $7.3 billion to expand

    Quote Originally Posted by hunchman View Post
    Who was it that benefited from the bail out at GM again?
    GM is a global company, I don't understand why people like you cry every time they invest in a foreign market. Do you really think they haven't invested in this market already after the bailout. GM has been adding back jobs here after the bankruptcy, if they were still bleeding jobs here then I'd have a problem with it.

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    Re: GM South Korean unit to spend $7.3 billion to expand

    Japan? Australia? New Zealand? Indonesia? Africa?

    $7B isn't pocket change except for mgescuro who spends that on lunch every Friday.
    It will be interesting to see what that money targets.

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    Re: GM South Korean unit to spend $7.3 billion to expand

    That's a lot of money, how much profit comes from these markets? I thought the majority of their profit came from the North American trucks and very little came from elsewhere but I could be wrong, have been before and will be again.

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    Re: GM South Korean unit to spend $7.3 billion to expand

    Quote Originally Posted by fakeout View Post
    The design center that turned the Orlando concept into a weird bubble look? Oopsies.
    I thought the Orlando was designed by Holden?
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    Re: GM South Korean unit to spend $7.3 billion to expand

    Quote Originally Posted by ByTheLake View Post
    The US is no longer GM's biggest market,
    By their own doing one might add.

    BUT, it is still their biggest profit center.

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    Re: GM South Korean unit to spend $7.3 billion to expand

    Quote Originally Posted by fakeout View Post
    The design center that turned the Orlando concept into a weird bubble look? Oopsies.
    None of the design centers operate in isolation.

    More often than not, product design is a collaborative effort between multiple locations, all of which ultimately report to the RenCen.

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    Re: GM South Korean unit to spend $7.3 billion to expand

    Korean built Chevy's have had iffy quality issues...
    Current Cars:
    2008 Opel Astra OPC
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    Re: GM South Korean unit to spend $7.3 billion to expand

    Quote Originally Posted by avinarf View Post
    Korean built Chevy's have had iffy quality issues...


    What about Korean Built Opels?

    Who the hell approved this abomination?

    I bet it was some dumbarse in Detroit

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