The signing ceremony was witnessed by US Secretary of Commerce William M. Daley and Shanghai Vice Mayor Jiang YiRen. The agreement was signed by Mr. Hu Mao Yuan, Vice President, SAIC and President, SGM and Lawrence B. Zahner, Jr., President, GM China Group.

Endorsed by Shanghai’s Planning Commission, the agreement calls for General Motors to import to China 52,000 sets of W- car and its derivative components, which will be required after partial localization. The component sets will be used in the year 2000. This purchase is in addition to the component sets which were previously purchased for the 1998 and 1999 calendar years, and resulted in $200 million in exports from North America to China.

The three-dimensional Evoq billboard joins a series of bold statements by Cadillac, including using George Thorogood’s "Bad to the Bone" song in Escalade advertising, and new, hip Catera commercials. Cadillac already has featured the Evoq concept car and Evoq-based Le Mans race car in full page print ads in national newspapers.

The Times Square display, located at the corners of 47th Street, Broadway and Seventh Avenue, is a wrap-around display composed of one head-on view and two profile shots of Evoq. Above the three separate shots of the concept car are three more billboards with the Cadillac wreath and crest emblem along with a series of icons that symbolize Cadillac’s fusion of art and science in its products and services.