The company has already invested $1 billion in India since 1996
General Motors CEO Mary Barra poses with an upcoming model of Chevrolet in New Delhi on Wednesday. The Trailblazer will cost Rs 18-20 lakh (ex-showroom Delhi). (Photo : PTI)
New Delhi: US auto major General Motors (GM) on Wednesday announced new investment of $1 billion (Rs 6,400 crore) in India to turnaround its operations in the country. As part of the revamp strategy the company will stop production at its Gujarat plant to consolidate manufacturing operations in Maharashtra. The company has already invested $1 billion in India since 1996.
GM on Wednesday had announced that it is making a $5 billion investment to strengthen its business in global growth markets through the development of an all-new vehicle family that will meet the rapidly changing demands of customers in Brazil, China, Mexico and India.
“We are committed to India for the long term. We are delivering on our promise and doubling our investment in India. This will allow us to provide our Indian customers the great vehicles they want and the world-class customer experience they deserve. It will also supports the government’s Make in India programme,” said General Motors CEO Mary Barra.
The new investment is expected to create 12,000 new jobs for GM India and its suppliers, said the company. The majority of the new investment will support the strengthening of Chevrolet’s Talegaon manufacturing base in Maharashtra. It will enable the facility to localise, industrialise and optimise its footprint to accommodate additional products for the domestic and export markets.
GM India is expected to roll out 10 new locally produced Chevrolet models within the space of five years. They include the Trailblazer SUV, which will go on sale in October of this year, and the Spin MPV, which will reach the market in early 2017.
Talegaon, which currently has a production capacity of 130,000 vehicles, will increase its base capacity to 220,000 vehicles by 2025. It will also become a global export hub for GM, with more than 30 per cent of its annual production planned for markets outside India. To rationalise its domestic operations, Chevrolet will cease production at its Halol facility in Gujarat by the second half of 2016.
( Source : deccan chronicle )
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