General Motors (GM) is a US carmaker that was the world’s biggest, although Toyota is challenging it for the title. It was hard hit by the global financial crisis, needing a government bailout, but emerged from chapter 11 reorganisation in 2009, and held an initial public offering in 2010. It returned to profit in 2011.
World's biggest parts supplier to set up technical centre
Delphi Corp, the world's largest car parts supplier, announced yesterday a US$50 million investment in a technical centre to be built in Shanghai.
The centre would carry out research and development for car components aimed at both the local and international markets, a top company executive said. 'China offers a very large, growing market,' said Guy Hachey, president of Delphi Energy and Chassis Systems.
Delphi has more than US$400 million invested on the mainland through 12 corporate entities, not including the planned centre.