Nissan Motor Company has announced an $8 billion expansion plan for China as the world's auto makers rush to the fast-growing market to make up for slow sales elsewhere around the world.

Also Tuesday, U.S.-based General Motors introduced its first sedan designed and built exclusively for the Chinese market. The company says the low-cost vehicle, known as the Baojun 630, is aimed at young professionals and young families.

Nissan, working with its Chinese partner Dongfeng Group, announced it will introduce 30 new models by 2015, including vehicles sold under the Venucia brand it is developing for the Chinese market. In April, Japan's Honda Motor Company introduced its S1 car under its new China-only Li Nian brand.

China surpassed the United States to become the world's largest auto market in 2009. Auto sales increased by a record 32 percent last year, though growth has slowed this year with the removal of government incentives.