General Motors will be investing 1 billion dollars in India and will launch 10 new products by the end of the decade. The company will also focus on exports.
Just recently we reported how a lot of General Motors dealerships in India are scaling down their operations due to poor sales and no feasible growth. The company had announced sometime back that they will be investing heavily in India and will also launch 10 new products. Now, according to the latest developments, it seems that the automaker is surely serious about making a big mark in the Indian four-wheeler market.
General Motors’ CEO Mary Barra will be in India this week to hold a meeting with all top officials of the company and also some people from the government. This is her third visit to the country in the last 15 months. Her team of 20 members includes International Business Head Stefan Jacoby and they had meetings with key stakeholders and dealers of the company. The global CEO is very keen to increase GM’s reach in India and now they will be investing a fresh 1 billion dollars over here.
The company’s Halol plant has been shut but with the fresh investment, as many as 1200 direct jobs and 12,000 indirect jobs will be made available. GM India is also set to become an export hub and will export vehicles to markets like South Korea and Indonesia and the company wants to break even by the end of the decade. The company wants to make profits from exports until domestic sales pick up. GM is looking to export 20,000 units in 2015 and 40,000 units in 2016 and 2017.
Chevrolet will launch the Spin MPV in India in 2017 followed by the next generation Beat. The new Beat will also spawn a compact sedan which will also be launched here. The automaker is working on a new platform meant for global emerging markets. By 2018-19, GM will come up with a new C-segment sedan to rival the Honda City and also a new compact SUV to fight with the likes of the Hyundai Creta.
Source – EconomicTimes.com