SHANGHAI, Aug 28 (Reuters) - U.S auto giant General Motors Corp said on Thursday it has tacked on an extra shift to its busy plant in Shanghai, raising monthly capacity by 50 percent in an effort to meet booming car demand.
GM now operates three shifts round the clock to crank out 18,000 vehicles a month, up from 12,000 when the plant ran two shifts, and plans to roll out its new Excelle sedan next month.
The increased output would enable the U.S. firm to raise its roughly eight-percent share of a rapidly expanding market, where car sales are seen surpassing the two million mark this year. Rival Volkswagen AG has about a third of the market.
"The additional shift, which came online in mid-August, will enable Shanghai GM to increase its production by 50 percent to meet the strong demand for its products, including the new Buick Excelle," the company said in a statement.
The Excelle -- GM's first foray into what it calls the lower-medium sedan market -- will be priced at 149,800 yuan ($18,100) and 179,800 yuan for the 1.6-litre and 1.8-litre versions, respectively.
It aims to roll out 35,000 Excelles this year.
Last month, state media said GM would invest two billion yuan in a new plant to double capacity at the five-year-old plant in Shanghai, raising output by an additional 100,000 cars a year.
But GM has declined to comment on the reports, beyond saying it aimed to set up a new factory in China's financial stronghold.
"Right now we're waiting for government approval," said Daphne Zheng, GM's spokeswoman.
The company is also considering assembling at least three of its prestige Cadillac models in Shanghai, initially shipping in semi-finished cars from the United States to China, where final assembly will take place. ($1=8.277 Yuan)