General Motors to invest 2000 crore in CV manufacturing in India
The Indian auto mobile industry is enjoying the growth of 31 per cent. It was able to achieve such success in the last year. Now, various auto companies are seeking to enjoy the potential growth and are looking forward to invest further in the domestic auto market.
It is recently being reported that the Indian arm of General Motors is extensively planning to grow beyond the existing portfolio of the company. The auto giant is looking forward for producing the Commercial Vehicles (Cvs) for the Indian auto market. As per report in a famous tabloid, GM will soon invest Rs 2,000 crore in the India in the coming three years time. It is expected that as many as Rs 1,400 crore will be invested in 2011-12.
Karl Slym, the President Managing Director of GM India quoted that GM will soon (expected on Wednesday) announce its investment of Rs 700 crore at the Halol manufacturing unit. The investment will be used in changing Halol into a hub of commercial vehicles. It will also work on enhancing the production capacity upto 1.05 lakh cars every year.
From the sources it has been known that the enterprise which partners SAIC, the Chinese firm and GM, the US company is expected to invest almost Rs 1,300 crore at the auto giant's Talegaon unit to increase the manufacturing capacity to 1.6 lakh cars. It is being known that yearly it can produce 85,000 cars at the Halol unit and 1.4 lakh in Talegaon plant.
The auto giant has array of cars which it will introduce in the domestic auto market. The reports mentioned that Slym saying that the Halol unit will have further investment as the company is looking forward to expand in the CV profile with its Chinese partner SAIC. In the Talegoan plant, the second phase of expansion will have initial investment of almost Rs 700 crore but by 2013 the company will invest almost Rs 1,300 crore. The US auto company also established a new engine manufacturing unit in 2010.
As General Motors declared the company's CV plans, it was learnt that the company will introduce two base Commercial Vehicles platforms which will include a pickup almost one to truck and a van. These car models will have different body frame versions. As per the report the sales will commence in the beginning of 2012 and the other six car models which include two LCVs, two medium size saloons and one SUV and a hatchback from GM will be manufactured by Indian technical centre.
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