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GM, Ford to export more cars to China

June 17, 2008|From Times Wire Services

General Motors Corp. and Ford Motor Co. agreed to export more North American-built vehicles and parts to China in separate agreements signed in Washington.

GM said it would sell and export $1 billion worth of vehicles, component kits, machinery and equipment to one of its Chinese partners, Shanghai General Motors, through 2010. Ford will sell more than 30,000 North American-built vehicles and will supply transmission components and parts to its joint venture, Changan Ford Mazda Automobile Co., in a deal worth $800 million.

Chinese Vice Premier Wang Qishan attended the signing ceremonies for both agreements, which were timed to coincide with high-level economic talks this week between Chinese and U.S. officials in Annapolis, Md.

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