New GM for a New Era
Welcome to the home page of "GM China: Commitment to the Future". This site was created to address your questions and provide you a thorough introduction to the new GM - a new automaker for a new era.
As you will see from the materials on this site, General Motors Company has brought together the best assets of the former General Motors Corporation, including GM’s operations across China and the rest of the Asia Pacific region.
The result is a lean, self-sustainable global company with a clear focus: giving customers a first-class experience, building the world’s best cars and trucks, and creating a winning culture. GM is determined to be a leader in design, technology and service – today and tomorrow.
Leadership Message
An Open Letter from GM Chief Executive
Today marks a new beginning for GM. The last 100 days have shown us that a company not known for quick action can move very fast, indeed. Starting today...
>>MoreAn Open Letter from GM China President
All of GM’s operations in China are included in the new General Motors Company. This is a sign of the importance of China to GM’s present and future, and a tribute to its past performance.
>>MoreLinks
"Day One" Press Conference Transcript
Today marks a new beginning for our company, one that will allow every single employee, including me, to return to the business of designing, building, and selling great cars and trucks, and serving our customers. And there is nothing we want to do more than that! >> Read More
GM China Part of the New General Motors Company
Shanghai - The new General Motors Company began operations today with a new corporate structure, a stronger balance sheet, and a renewed commitment to make the customer the center of everything the new GM does. GM China and its domestic operations will be an important part of the new company. >> Read More
News>> PDF Version
Q1: What is General Motors Company, and how is that different from General Motors Corporation? What is different, really, about the new GM?
General Motors Company, or “new GM” is an entirely new company. Our new company is built from the strongest elements of the “old GM” business – the employees; the strongest brands (Cadillac, Chevrolet, Buick, GMC), and the core plants and other hard assets that those brands rely on; the supplier relationships and contracts necessary to keep the business moving; and the equity in GM’s domestic and global subsidiaries.
The new GM will operate with a competitive cost structure, cleaner balance sheet and lower breakeven point enabling investment in products and key technologies. We will be customer and product focused – and customers will drive our decision making. We will support risk-taking, act with greater speed and drive more accountability for performance within the company.
Q2: Who owns General Motors Company? Is General Motors Company wholly owned by the United States Government?
The General Motors Company’s common stock will initially be owned by:
• U.S. Department of the Treasury: 60.8 percent
• UAW Retiree Medical Benefits Trust: 17.5 percent
• Canada and Ontario governments: 11.7 percent
• Motors Liquidation Company: 10 percent
Q3: How does the 363 sale affect other regions where GM operates?
GM’s subsidiaries outside the United States were acquired by General Motors Company and are expected to continue to operate without interruption.
Q4: Is there any change to GM China since it has been included into New GM, including its strategy and business operations?
There is no major change to our strategy as well as the way we operate here in China.
• We will continue to work together with our partners to support our JVs’ development in China.
• GM is profitable in China, which enables us to self-fund new programs and projects in China. GM China’s development plan remains on track.
• We do not foresee any substantial change to the relationship and business model of GM China and our parent company, New GM.
• Here in China, we are working hard to continue to design, engineer, build, and sell great products and to satisfy our customers. Our product launches and new product development remain on track.
• GM China’s sales performance maintains momentum. We just set the first half sales record with 38.0% to 814,441 units. In June, GM China, with the two local joint ventures, sold 143,294 vehicles, up 61.62% percent compared with the same period last year.
The formation of this new company will only improve our operations in China. We will maintain our momentum and continue to be aggressive in the marketplace by delivering great products and service to our dealers and customers.
Q5: Does it mean all of GM China’s assets registered in China, including its stake in JVs, will be moved into New GM?
Yes. All of GM’s operations in China are included in the new General Motors Company (New GM).
Q6: What is GM China’s role or position in New GM globally?
Since all of GM’s operations in China are included in New GM, this is a sign of the importance of China to GM’s present and future, and a tribute to its past performance.
GM China will be an important strategic part of New GM’s plans for continued growth and momentum. GM’s success in China is even more important to New GM as a whole. China will continue to serve as a key part for New GM’s global market as well as a key source of New GM’s global product development and R&D footprints.
Q7: We understand that New GM will be leaner and more customer-focused. What does it mean to GM China’s business?
New GM is today a leaner, more self-sustainable company that has a clear focus: give customers a first-class experience, build the world’s best cars and trucks, and create a winning culture.
In China, GM understands and is meeting the needs of Chinese customers better than any other car company through the broadest portfolio of products and services.
GM China will keep leveraging our global leadership in advanced technology and powertrain to improve the fuel efficiency of our current products and offer new, more efficient products in China.
GM China will stay aggressive in taking advantage of opportunities and is determined to be a leader in design, technology and service along with New GM’s strong business model, award-winning product lineup, as well as technological/engineering support.
Q8: We understand that GM China is self funding currently. Then what will GM China benefit from New GM in the future?
From the technological/engineering point of view, we will continue to benefit from GM’s strong global product development footprint.
• GM’s product development centers based in each region plan globally and respond locally, which allow us to quickly and efficiently respond to consumer trends and tastes in China;
• GM’s global Engineering System will continue to provide the best technical direction to GM China, including resource allocation, the best practices, standardized work, and technical competency.
GM still enjoys a leading position in Advanced Technology which will also help GM accelerate the development of cleaner, more energy-efficient automotive technologies and more diverse energy solutions in China, for China.
Q9: GM once said it would not take any profits made in China out of China and will re-invest in the market. Will the commitment change after New GM’s formation?
We have a consistent business pattern in China. First, we reinvest in our China operations to ensure their sustainable development. Second, we ensure that our shareholders enjoy reasonable return on their investment.
Q10: Will this affect your partnership with SAIC or JVs’ operation in China?
All of GM China’s business operations remain on track. We will work together with our partners to support our JVs’ development in China.
As separate business entities, our JVs in China will continue their normal operations.
GM China Official Website