GM to create new import business in China
General Motors Co. is creating a startup within the company focused on a premium import business in China, the company confirmed Monday.
"The new business is being built from the ground up and will enjoy a high level of autonomy," GM spokesman David Barnas said in a statement. "We are inviting talent from across industries to join us in jointly creating this brand-new business. Additional details will be shared at a later date."
The Detroit automaker’s China president, Julian Blissett, earlier this month described the imported vehicles as “halo cars” brought in from the United States, Reuters reported. The premium halo vehicles are designed to showcase a manufacturer's capabilities in performance, technology and design.
Blissett said the business will focus on selling higher-end vehicles currently unavailable in the country, Reuters reported.
On Monday, GM President Mark Reuss told CNBC the vehicles included will be both electric and internal combustion engine models.
GM did not reveal any other details on when the business will launch and what vehicles will be imported to China.
GM did not export any vehicles to China from the U.S. in 2021.