Mexican Media Brands
China’s SAIC Buys GM Factory in India
SAIC Motor Corp. has finalized a deal to buy a General Motors Co. assembly plant in Halol, India, The Economic Times reports.
#economics
Share
SAIC Motor Corp. has finalized a deal to buy a General Motors Co. assembly plant in Halol, India, The Economic Times reports. Terms were not disclosed,
GM signaled two years ago it might idle the plant, which is located in the western state of Gujarat. Earlier this week ET cited a GM spokesperson who said the carmaker would end production at the facility on April 28.
Sources told Reuters in January that GM was negotiating to sell Halol to SAIC and intended to consolidate its manufacturing operations at its factory in Talegaon. The two facilities have annual capacities of 110,000 and 150,000 vehicles, respectively. Last year GM sold fewer than 29,000 vehicles in India.
The sale comes as SAIC, a joint venture partner with GM in China, seeks to build its presence in India. ET says GM has indicated it will decide by May whether to wind down its operations in the country.
RELATED CONTENT
-
Ford Simulates Gravity
Although virtual development tools are being used more and more, there are still some things that are done in the real world.
-
Toyota Updates Fuel Cell Test Truck
Toyota Motor Corp. unveiled an updated version of its Project Portal fuel cell-powered heavy-duty truck with reduced weight and increased driving range.
-
Robotic Exoskeleton Amplifies Human Strength
The Sarcos Guardian XO Max full-body, all-electric exoskeleton features strength amplification of up to 20 to 1, making 200 pounds—the suit’s upper limit—feel like 10 pounds for the user.
