General Motors to launch US$250 mln GM campus in Shanghai

General Motors Corp, the world's largest car maker, will set up a US$250 million GM campus in Shanghai, sources reported.

The GM campus, to be located in Jinqiao Export Processing Zone, Pudong District, is scheduled to commence operation at the end of next year, according to Kevin E. Wale, president and managing director of GM China. By then the GM Campus will act as the headquarters for GM China and the Asia Pacific region.

The U.S. auto giant yesterday launched its new research and development center in Shanghai, a part of the campus, via signing land-leasing contracts with two local companies after getting approval from the authorities.

GM has been increasing its investment and has localized its R&D capability in China to develop alternative fuels in the world's second largest auto market. It set up its first research institution in China with Shanghai Jiaotong University on March 18, in which GM said it will invest US$4 million in the coming five years.