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British Tycoon Ponders EV Production in Australia
British industrialist Sanjeev Gupta has offered to buy a shuttered General Motors Co. factory in Adelaide, Australia, and use the facility to make electric cars, the Financial Times reports.
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British industrialist Sanjeev Gupta has offered to buy a shuttered General Motors Co. factory in Adelaide, Australia, and use the facility to make electric cars, the Financial Times reports.
The bid came from GFG Alliance, a Gupta family’s privately owned conglomerate. GM closed its Holden car plant in Adelaide in October, marking the end of the country’s auto industry. Holden was to begin auctioning its assets last Friday, according to FT.
South Australia’s treasurers told GM Holding the region was “incredibly excited and supportive” of the GFG Alliance bid.
Gupta’s bold investments in England helped revive the country’s steel industry two years ago. Analysts tell FT the idea of making EVs in Australia has merit because the country still has vehicle design, engineering and manufacturing expertise. They also suggest that automation could offset Australia’s relatively high labor costs.
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