General Motors opens regional headquarters in Singapore

General Motors International opened its new headquarters in Singapore on Tuesday to support the regional markets excluding China and Japan.

The headquarters of General Motors International was previously in Shanghai, China, which has been one of the most important markets for the company. General Motors president Dan Ammann said that the move is positioned to tap the long-term growth opportunity in the emerging markets in the region.

The office in Singapore, which will have about 200 employees, will support six markets such as Africa, Australia, India, Middle East, Southeast Asia and South Korea.

However, General Motors International president Stefan Jacoby said that the businesses in most of the markets are not profitable, especially in Southeast Asia.

The company will have to look to changing its business model to turn its fortunes around, he said.