GM has announced that it will put on hold a one billion dollar investment that it had announced in 2015 for the Indian market. The announcement comes on the back of struggling India sales and lack of strong volume models American automaker.
The announcement in 2015 included 10 locally produced models over the next few years. They would be based on a new platform that the automaker was developing for markets like India, China and Brazil. It had, at the 2016 Auto Expo, showcased the Essentia and Beat Activ and then later also showcased a next-generation Chevrolet Beat hatchback for the Indian market. These are expected to spearhead their charge in the sub-continent.
The company has not indicated at the time frame for the investment freeze but has said that their priority was to establish the right business conditions for sustainable profitability.