Kevin Wale Speech
• Wanshang hao!
• Thank you, Karin. And thank you all for joining us this evening.
• The launch of our Expo 2010 campaign last year has paved the way for GM to ‘Drive to 2030’ this year.
• It was exciting to see our joint pavilion with SAIC go up and our plans for Expo 2010 take shape.
• We are now less than three months away from the opening of World Expo 2010 Shanghai. We look forward to sharing our vision for the future of urban transportation with visitors from across China and around the world.
• I’ll let Jean [Liu-Barnocki] update you on the progress of our joint pavilion and tell you more about our plans for Expo 2010.
• I know many of you don’t regularly cover the automotive industry, so I’d like to take today’s opportunity give you a brief introduction and a quick update on General Motors.
• The past year was unlike any other in our company’s 101 years of business. While we faced enormous challenges in North America and Europe, in China we achieved record sales that began in January and continued through December.
• Sales by GM and our joint ventures jumped 67 percent to a record 1.8 million vehicles. We ended 2009 with an estimated market share of 13.4 percent – another record for GM in China. And GM was the leader among global automakers in China for the fifth consecutive year.
• GM China, along with our joint ventures, introduced several new and upgraded models including the new Buick LaCROSSE, Buick new Regal 2.0 Turbo, Chevrolet Cruze, and new Cadillac SLS and SRX.
• We also continued to expand our presence in China throughout last year.
• We launched a new joint venture with FAW in light commercial vehicles, a fast-growing segment.
• GM and SAIC started a new joint venture in Hong Kong to grow in Asia’s emerging markets, starting from India.
• We began service at our Shanghai OnStar joint venture, offering in-vehicle information services in the Cadillac SLS and Buick Enclave.
• In addition, we launched GM China Science Lab, opened PATAC’s new vehicle safety lab, and joined Shanghai GM and SAIC in breaking ground on China’s largest proving ground, all of which help strengthen GM’s R&D and engineering capability.
• At the end of 2009, GM China and International Operations moved to our new home in Shanghai – GM China Campus. The second phase of the campus, Center for Advanced Research and Science, will be launched soon.
• With all these business expansion in China, today, GM has the broadest footprint in China’s automotive industry. It represents an integrated value chain that functions seamlessly.
• We have ten joint ventures in China that are engaged in the manufacturing of vehicles and powertrains, vehicle sales and aftersales, automotive engineering and design, as well as automotive financing and telematics services.
• We operate 10 vehicle assembly plants and four powertrain plants in seven Chinese cities.
• Along with our joint ventures, GM offers the broadest lineup of vehicles and brands among automakers in China. More than 30 different products are sold under the Buick, Cadillac, Chevrolet, Opel, Wuling and Jiefang nameplates. They cover the vehicle market from entry level to luxury and cater to different customer needs and segments.
• In fact, in just the first month of 2010, we introduced the Chevrolet New Sail, Buick Excelle XT and Jiefang 501. More new products are on the way.
• China became worlds’ largest automotive market last year. Our success in this market originates with our strategy of working “In China, with China, for China.”
• Our partnership with World Exp 2010 Shanghai is another example of our commitment to China and bringing global resources and most cutting technologies to this market.
• I look forward to continuing to work with you as we “Drive to 2030” together.
• I want to close by thanking you for your support over the past year. It is greatly appreciated by all of us at GM.
• And I want to wish you and yours a happy, healthy and prosperous Year of the Tiger.
• Gong Xi Fa Cai and please enjoy dinner tonight.
