Shanghai GM to invest 100 bln yuan to develop new vehicles
April 19, 2015 at 08:41 AM EDT
SHANGHAI, April 19 (Reuters) - Shanghai GM, a joint venture between General Motors and Chinese automaker SAIC Motor Corp, plans to spend 100 billion yuan ($16.14 billion) over the next five years to develop new vehicles, Shanghai GM President Wang Yongqing said on Sunday.