After confirming its plans to enter India, now SAIC signs MoU with Gujarat state government to acquire GM’s Halol plant.
SAIC Motors will begin its India operations with the iconic MG brand and focus is set on bringing SUVs initially to the Indian market.
It has now come to light that SAIC has signed a Memorandum of Understanding (MoU) with the Gujarat state government for acquiring the recently shut down plant of GM at Halol. Gujarat government has assured the manufacturer of necessary facilitation on registration and other required approvals.
As per the MoU, when the operations begin in 2019, there will be 1000 workers employed in the Gujarat plant. The company has planned to invest a sum of Rs. 2000 crores for the new plant and machinery at the Halol factory and around 5 global vendors are likely to set up their manufacturing base around the Halol facility with an additional Rs. 1000 crores investment.
SAIC has plans of selling its products with an MG badge here in India and initially will focus on bringing SUVs to the Indian market. Starting from 2019, SAIC is aiming to produce 50,000-70,000 units and information on the products that will be launched will be revealed next year.
SAIC Signs MoU
– SAIC Motors will begin its India innings with the British MG brand
– SAIC has signed a MoU with the Gujarat state government for acquiring GM’s Halol plant
– India operations are set to commence from 2019 with 1000 workers in the plant