Great Wall Motors Co., Ltd., China's largest sports activities utility car producer, is in superior stage negotiations with American automaker General Motors Company to amass its second manufacturing plant in Maharashtra.
According to sources immediately conscious of the event, the Chinese firm has additionally signed a memorandum of understanding with the Detroit-based firm and can also be in talks with the Maharashtra authorities for attainable incentives for the corporate if that plant Decides to take over.
According to an Economic Times report on Monday, Great Wall Motors is prone to pay roughly $ 250 to $ 300 million to the US producer for the plant. <! –
On November 10, 2019, Mint was the primary report that Chinese automakers, Great Wall Motors and SAIC Motor Corp are in talks with the US automaker for a attainable takeover of their second plant.
Located in Talegaon in Maharashtra, the plant can produce 165,000 automobiles and 160,000 electrical trains in a yr. In 2017, General Motors bought its first manufacturing facility in India to SAIC in Halol, Gujarat. SAG's unit MG Motor India has tasted runaway success with its debut Hector Sport Utility Vehicle (SUV) since sale in June.
Great Wall Motor is actively scouting to start out operations in land or current factories in India. The brownfield manufacturing facility, if acquired, is probably going to assist the corporate launch its operations into the inexperienced sector in a short-term firm.
Great Wall is prone to launch sports activities automobiles of its Hutal model in India and can be showcased on the Auto Expo in February.
General Motors stopped promoting automobiles in India in early 2017, primarily utilizing the Talegaon plant to export its Chevrolet Beat hatchback to Latin America. It couldn’t fully shut down its India operations because it did not discover a purchaser for one more plant.