Business

GM to Move Int’l Office from Shanghai to Singapore

In this April 20, 2011 file photo, a GM Chevrolet division employee are reflected in a floor as she stands next to a Chevrolet Volt model on display at the 14th Shanghai International Auto Show in Shanghai, China. General Motors Co. said Wednesday, Nov. 13, 2013 that it will move its international headquarters from Shanghai to Singapore, a trophy for the tropical city-state that is aggressively promoting itself as a global business center. The automaker said in a statement that the new headquarters will have about 120 employees to oversee GM's businesses in Africa, Southeast Asia, Australia, New Zealand, India, South Korea and the Middle East, as well as Chevrolet and Cadillac Europe. (AP Photo/Andy Wong, File)
In this April 20, 2011 file photo, a GM Chevrolet division employee are reflected in a floor as she stands next to a Chevrolet Volt model on display at the 14th Shanghai International Auto Show in Shanghai, China. General Motors Co. said Wednesday, Nov. 13, 2013 that it will move its international headquarters from Shanghai to Singapore, a trophy for the tropical city-state that is aggressively promoting itself as a global business center. The automaker said in a statement that the new headquarters will have about 120 employees to oversee GM’s businesses in Africa, Southeast Asia, Australia, New Zealand, India, South Korea and the Middle East, as well as Chevrolet and Cadillac Europe. (AP Photo/Andy Wong, File)

DIDI TANG, Associated Press

BEIJING (AP) — General Motors Co. said Wednesday that it will move its international headquarters from Shanghai to Singapore, a trophy for the tropical city-state that is aggressively promoting itself as a global business center.

The automaker said in a statement that the new headquarters will have about 120 employees to oversee GM’s businesses in Africa, Southeast Asia, Australia, New Zealand, India, South Korea and the Middle East, as well as Chevrolet and Cadillac Europe.

GM said it will keep its Shanghai office open with about 250 employees for operations in China, which has overtaken the United States as the world’s largest auto market by new vehicle sales.

The move, which is slated for the second quarter of next year, would put GM’s international head office closer to important markets without undermining its crucial Chinese business.

Singapore courts multinational companies by touting advantages such as high quality infrastructure, low crime and ease of doing business.

John Zeng, managing director of the forecaster LMC Automotive, said Singapore’s low corporate tax is an attraction for international companies and GM’s Shanghai office “has got too crowded” with several operations there.

Namrita Chow, an analyst with IHS Automotive, said international companies are turning to emerging markets outside China after a decade of concentrated efforts there.

“China now is an established market, and they need to expand to the other markets,” she said.

In 2004, GM decided to move its Asia-Pacific regional headquarters from Singapore to Shanghai, then a nod to the rising importance of China to the U.S. automaker.

Several years later, GM set up a division for international operations in Shanghai, but a recent reshuffle split GM China from the international unit, which is seeking a new start, said Lori Arpin, spokeswoman for GM’s international operations.

China’s appeal for foreign professionals has been diminished by pollution in cities such as Shanghai and Beijing though GM did not cite that as a reason for the shift.

“Singapore would offer closer proximity to our key markets,” Arpin said.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Tags
Show More

Related Articles

Back to top button

My News Matters to me - Washington Informer Donations

Be a Part of The Washington Informer Legacy

A donation of your choice empowers our journalists to continue the work to better inform, educate and empower you through technology and resources that you use.

Click Here Today to Support Black Press and be a part of the Legacy!

Subscribe today for free and be the first to have news and information delivered directly to your inbox.


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker