Great Wall Motors is in talks to buy the General Motors owned Talegaon plant.
Great Wall Motors is a Chinese carmaker which is eager to enter the Indian market soon. The company is currently setting up operations in India and are looking out for land to setup their plant.
They are now in talks with General Motors to buy the American carmaker’s Talegaon plant in Maharashtra as GM has shut operations in our country. GWM is currently negotiating with GM to acquire the manufacturing plant.
The Chinese carmaker is likely to pay $250 to $300 million (Rs. 2152 crores) to General Motors for the plant. This plant in Talegaon has a capacity to produce 1.65 lakh vehicles per annum and 1.60 lakh powertrains per annum.
GM has previously sold their Halol plant in Gujarat to SAIC which currently sells cars in India under the MG brand and SAIC has tasted instant success in the Indian market with the Hector.
Great Wall Motors will introduce the Haval brand in India which is known for their SUVs. The first product is likely to be an SUV in India and the Chinese carmaker will showcase a range of new cars at the Auto Expo 2020 next month.
Great Wall Motors Plant
– The Chinese carmaker is in talks with GM for Talegaon plant
– Great Wall is likely to pay around $300 million to GM
– The plant can produce 1.65 lakh vehicles a year
Source – LiveMint.com