General Motors will invest $1 billion in India as a part of their long-term growth strategy. This announcement was made by Mary Barra, global CEO, General Motors, who was on her second visit to India.
This new investment is expected to create around 12,000 jobs for the company and its suppliers. Majority of this investment will be done at the company’s Talegaon facility in Maharashtra. Also, GM India will cease the operations of its Halol plant in Gujarat by the second half of 2016, to consolidate its India operations.
With the help of this investment, the American manufacturer will roll out a completely new vehicle family which will have around 10 products. These vehicles will be rolled out within the next five years and will be produced at their Talegaon facility. This facility has a production capacity of 130,000 vehicles which will be increased 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.
“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 support the government’s Make in India program," said Mary Barra.
