General Motors Co. announced Monday at the Beijing auto show that it will begin building its all-new 2013 Cadillac XTS sedan in China this year and later will build the ELR luxury electric coupe in the country.
The production announcements mark a significant step in GM’s push for Cadillac to become a global brand.
“Introducing the XTS is part of our strategy of adding one new model per year to our Cadillac lineup in China through 2016 to address the needs of luxury car buyers nationwide,” GM Chairman and CEO Dan Akerson said in a statement.
When asked if this involved the billion dollar bailout of GM the company replied “Look, the bailout dollars made it all possible. It’s expensive to move factories abroad without the billion dollar bailout we never could have done it. But we have Obama’s blessing. Within five years all our cars will be made overseas. It’s more profitable. It’s all part of our strategy to become a global car company”
A senior engineer at the chinese auto manufacturer said “According to our rules, the Chinese must own 51% of any company. Within five years we will have stolen all of their technology and we will introduce our own version of it. But cheaper without the overhead of bloated American management salaries. There’s no way an American company can compete”
When asked if they had fallen into a trap by the Chinese, the company replied “Trap? Look we get our bonuses and that’s what matters. My salary went below 100 million a year in the crisis it’s time to turn that around. Who cares if it only lasts five years. By the time GM collapses I will be living in Aruba.”