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GM to build a $1.3B Cadillac plant in China, WSJ reports

GM has received permission from China's National Development and Reform Commission to build a $1.3B plant to manufacture its Cadillac brand, as it looks to become a larger player in China's booming luxury car market, reports the Wall Street Journal. The facility will be built in Jinqiao beginning next month and will have a capacity of 150,000 vehicles.