I wonder how Mohindra and Tata are going take this news.
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NEW DELHI— General Motors Co. is retooling its game plan for India, betting $1 billion it can emerge as a bigger force in a market where it currently is a bit player with a somewhat tarnished reputation.
Stefan Jacoby, running some of the Detroit auto maker’s operations in international markets, said Wednesday that one Indian factory will be closed, shifting focus to a single plant with 220,000 vehicles of capacity. That factory, in the state of Maharashtra, will in five years produce 10 new Chevrolet models, a third of which will be earmarked for export.
“Today we draw the line and mark the beginning of a new General Motors here in India,” Mr. Jacoby said at a news conference attended by Chief Executive Mary Barra. “We have a lot of hard work ahead of us.”
The auto maker’s sales are down sharply in India through six months, even as the wider industry has grown modestly and as India is seen as one of the emerging markets with the highest potential. Having to recall 269,000 vehicles in the past two years in India, GM has seen its image take a hit.
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General Motors to Build New Models in India Some for Export - WSJ
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NEW DELHI— General Motors Co. is retooling its game plan for India, betting $1 billion it can emerge as a bigger force in a market where it currently is a bit player with a somewhat tarnished reputation.
Stefan Jacoby, running some of the Detroit auto maker’s operations in international markets, said Wednesday that one Indian factory will be closed, shifting focus to a single plant with 220,000 vehicles of capacity. That factory, in the state of Maharashtra, will in five years produce 10 new Chevrolet models, a third of which will be earmarked for export.
“Today we draw the line and mark the beginning of a new General Motors here in India,” Mr. Jacoby said at a news conference attended by Chief Executive Mary Barra. “We have a lot of hard work ahead of us.”
The auto maker’s sales are down sharply in India through six months, even as the wider industry has grown modestly and as India is seen as one of the emerging markets with the highest potential. Having to recall 269,000 vehicles in the past two years in India, GM has seen its image take a hit.
...
General Motors to Build New Models in India Some for Export - WSJ