American automaker General Motors is planning on expanding even more in China.CEO Dan Akerson announced Monday the company with open 600 dealerships in China this year to nearly double its production capacity in the country.Even though sales growth has slowed from 35 percent in 2010 to just 2 percent in the latest quarter, GM will expand its dealership network from 2,900 last year to 3,500 by the end of this year.Akerson added that the company also plans on boosting its production capacity in China to 5 million cars a year by 2016. General Motors (NYSE:GM) has potential upside of 49.2% based on a current price of $23.60 and an average consensus analyst price target of $35.20.
