(1888PressRelease)
August 30, 2008 - London - The automotive giant, whose India investments exceed more than $1 billion, is planning the new facility at Talegaon, in the western region of Maharashtra. The plant which will produce both petrol and diesel engines will have an annual capacity of 160,000 units and can be expanded to 300,000 units. The plant is expected to be completed in the first quarter of 2010.
As the US market sours for leading automobile makers, emerging markets offer tremendous opportunities for them. GM has already lost billions of dollars due to weak sales, high fuel costs and slumping economy. Even Toyota, GM's closest rival has slashed its 2009 vehicle sales forecast by nearly 7 percent.
As one of the fastest growing automotive markets in the world, India offers interesting alternative opportunities for GM, which is looking to double its market share in India. The company also plans to make a new small car at the Talegaon facility in a bid to improve its sales.
The facility is planned in GM’s second vehicle plant in Talegaon, an industrial area that is home to auto and auto ancillary plants of automotive biggies like Daimler Chrysler, Volkswagen etc.
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