�� - �� - GM launches new low-cost brand in China and it's a 'treasured horse'

�� · #1 19-07-2010, 10:00 PM

While the German automakers - and Buick - mop up outrageous demand for their wares in China's major metropolitan and coastal cities, General Motors wants to be the nameplate of choice in the secondary cities and the interior. And now in conjunction with its joint-venture partners SAIC and Wuling, it has launched another nameplate: Baojun. Meaning "treasured horse," Baojun is the low-cost brand that will sell passenger cars built in China for priced in the area of $7,000.

The Baojun's sales network will be built after the car is launched, but GM hasn't let slip when that will be. The aims are lofty for the small runabout tasked with opening up another market segment, with the general manager of SAIC-GM-Wuling declaring, "We aim to surpass customer expectations by creating a brand that combines world-class quality with low ownership costs." Follow the jump for the press release on the venture.

[Source: General Motors]

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