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.November 05, 2003
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This Week:

• Ford Racing's New 5.0-Liter "Cammer" V-8 Crate Engine Offers High Horsepower And Easy Installation

• Hybrid Vehicles are One of Many DaimlerChrysler Solutions For Future Environmental and Fuel-Consumption Needs

• New potentials developed with lightweight construction

• BMW Group Sets October Sales Record With 15% Sales Increase

• Nissan Displays An Array of Performance Vehicles at 2003 SEMA Show

• GM Chairman & CEO Rick Wagoner Named Chairman Of IBLAC

• New GTO Leads Pontiac's Performance Renaissance

• smart Morphs From Single Car To Range Of Models

• Saab Cars USA on track for best year ever

• Land Rover Showcases Its Brand's DNA - The Defender 110

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GM Chairman & CEO Rick Wagoner Named Chairman Of IBLAC
 

Shanghai - GM Chairman and CEO Rick Wagoner was today named chairman of the International Business Leaders' Advisory Council for the Mayor of Shanghai (IBLAC). Wagoner, who succeeds Novartis Chairman and CEO Daniel Vasella, will oversee the consultative body for the years 2004 and 2005. He will participate in formulating the agenda and preside at the annual gathering of government and business leaders. He also will coordinate the preparation of the organization's reports. "This is a prestigious honor," said Wagoner, who previously served as IBLAC vice chairman. "As a company with a sizable investment in Shanghai, including two joint ventures and two wholly owned enterprises, GM's success in China is tied to the success of the municipality."

"As Shanghai moves closer to achieving its goal of becoming a world-class city, it will face many of the same challenges that other cities have encountered. It also will face some wholly unique challenges," said Wagoner. "By taking advantage of the collective knowledge and expertise of those of us with a stake in Shanghai's long-term future, we can help overcome the challenges together for the good of Shanghai, its development and its people."

Facilitating an IBLAC session earlier in the day entitled Better City, Better Life, Wagoner discussed the need for sustainable development. He shared GM's vision for integrating economic, environmental and social objectives into its daily objectives and future planning activities in the communities in which it does business.

IBLAC was created by Shanghai's mayor in 1989 to provide counsel from business leaders about how Shanghai can improve its investment environment. Its mission is to help Shanghai become a prominent business, educational and cultural center by 2010. IBLAC's members, who are chosen by the mayor, meet annually to discuss a topic of relevance to the development of the municipality's economy.

General Motors, the world's largest vehicle manufacturer, designs, builds and markets cars and trucks worldwide. Last year it sold more than 8.5 million vehicles in more than 190 countries and territories around the world. GM has five joint ventures, two wholly owned foreign enterprises and approximately 10,000 employees in China.

(November 2, 2003)