From FinancialWire

General Motors plans to build environmentally friendly hybrid cars in China by 2008. The hybrid would go into mass production at the Shanghai GM plant, a joint venture with Shanghai Automotive Industry Corp.

Toyota Motor Corp., a pioneer of environmentally friendly cars, began production in China of its popular Prius hybrid at the end of last year. It is not clear which hybrid car would be built in China, but GM's hybrid system was currently under development with DaimlerChrysler AG and BMW.

"The GM Hybrid System is flexible and cost effective and is ideal for high volume global applications, which include its introduction in China in 2008," said Martin Murray, head of GM's Asia Pacific hybrid engineering. DaimlerChrysler is enrolled in Investrend Research affiliate ValuEngine's professional analyst program.