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Home / News / Business News / SAIC motor of China to buy GM India's plant
  • Business

    SAIC motor of China to buy GM India's plant

    Achin Garg
    Written by
    Achin Garg
    Mail
    Last updated on Jan 25, 2016, 04:54 pm
    SAIC motor of China to buy GM India's plant
    Credits:
  • SAIC Motors, a Chinese auto-major is planning to purchase General Motors India's (GMI) Halol manufacturing unit located in Gujarat.

    The Halol factory of GMI produces Tavera, Cruz sedan and Enjoy MUV, which SAIC will continue to produce for GMI on a contractual basis.

    GM India, yet to post profit in 2 decades, will now concentrate on its Talegaon manufacturing unit in Pune.

  • In this article
    About SAIC motors About General Motors India SAIC buys GM India shares GM buys back SAIC share in GM India SAIC motor of China to buy GM India's plant GM India to end Halol operation by Jul'16 Historical landmark
  • SAIC

    About SAIC motors

    About SAIC motors
    Credits:
  • SAIC Motor Corporation Limited, formerly Shanghai Automotive Industrial Corporation, is the largest automotive company in China with annual revenues of around $102 billion (2014).

    It is a state owned company with its headquarters in Shanghai, China and sold around 5.62 million vehicles in 2014.

    SAIC, a fortune 100 company, had bailed out General Motors India during the 2010 bankruptcy it faced in the US.

  • GM

    About General Motors India

    About General Motors India
    Credits:
  • General Motors (GM) India began its India operations in 1996 and offers its products under the brand Chevrolet.

    GM has its headquarters in Gurgaon and it operates 2 manufacturing units - Halol (Gujarat) and Talegaon (Mahrashtra) with a cumulative capacity of 3 lakh vehicles per annum.

    Its major products include Beat, Tavera, Cruze, Spark, etc.

  • Information

    SAIC buys GM India shares

  • SAIC purchased 50% shares of GM India from its parent company General Motors in December 2009, ahead of its 2010 bankruptcy filing, to launch a series of vehicles including Sail using SAIC's platform.

  • 17 Oct 2012

    GM buys back SAIC share in GM India

    GM buys back SAIC share in GM India
  • In 2012, General Motors (GM) had bought back 43% shares in General Motors India (GMI) from SAIC which had 50% shares in GMI.

    The company had not revealed the amount for which it had bought back the shares.

    General Motors would now have 93% shares post this rejig and SAIC would have 7% shares remaining in GM India.

  • 25 Jan 2016

    SAIC motor of China to buy GM India's plant

    SAIC motor of China to buy GM India's plant
    Credits:
  • SAIC Motors, a Chinese auto-major is planning to purchase General Motors India's (GMI) Halol manufacturing unit located in Gujarat.

    The Halol factory of GMI produces Tavera, Cruz sedan and Enjoy MUV, which SAIC will continue to produce for GMI on a contractual basis.

    GM India, yet to post profit in 2 decades, will now concentrate on its Talegaon manufacturing unit in Pune.

  • 25 Jan 2016

    GM India to end Halol operation by Jul'16

    GM India to end Halol operation by Jul'16
    Credits:
  • GM India is likely to wind up operations in its Halol manufacturing unit by July'16.

    The Halol plant, located 50 km from Vadodra in Gujarat has a capacity to produce about 1.1lakh vehicles per annum and employs about 1100 workers, many of whom may be retained post rejig.

    SAIC, however, may sell the remaining shares in GM India after obtaining control of the plant.

  • Information

    Historical landmark

  • If the deal between GM India and SAIC goes through, this will be the first time that a Chinese auto company will be manufacturing vehicles in Inda.

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