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News Summary: GM opens plant for China budget cars

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The Associated Press | November 19, 2012 12:38 PM EST | AP


DISCOUNT DRIVERS: General Motors Co. and its Chinese partners launched a second plant to make cars for discount brand Baojun, ratcheting up the battle for customers at the fast-growing lower end of the world's biggest auto market.

NOT-SO-SHOCKING STICKER: The first car to roll off the plant's production line was a Baojun 630 midsize sedan. It sells for about 63,000 yuan ($10,100).

CHEAP WHEELS: In September, Nissan unveiled a second model of its low-priced Chinese brand Venucia, a compact hatchback that will sell for as little as 67,800 yuan ($10,760). Honda has also launched a budget brand.