Chevrolet have announced a US$ 1 billion investment in India. Has the sleeping giant just woken up? Find out
Story: Aninda Sardar
In a surprise and unexpected move, Chevrolet have announced plans of investing US$ 1 billion (Rs 6,400 cr) in India as part of the company’s global growth strategy. The announcement was made in Delhi during GM CEO Mary Barra’s second visit to the country in 12 months and is part of the American manufacturer’s decision to invest a total of US$ 5 billion in global growth markets.
According to the plan, GM India is expected to roll out 10 new locally produced Chevrolet models within the space of five years. They include the Trailblazer SUV, which will go on sale in October of this year, and the Spin MPV, which will reach the market in early 2017.
The new plan also calls for cessation of operations at the company’s facility in Halol, Gujarat by the second half of 2016. The entire production of Chevrolet vehicles in India will instead shift to the Talegaon facility, with the latter’s annual production capacity of 1,30,000 vehicles being expanded to 2,20,000 units per annum by 2025. The move is also expected to generate 12,000 direct and indirect employment opportunities.
On the occasion, GM CEO Mary Barra said, “Chevrolet is committed to India for the long term. We are delivering on our promise and doubling our investment in India. This will allow us to provide our Indian customers the great vehicles they want and the world-class customer experience they deserve. It will also support the government’s Make in India program.”
The company has already invested US$ 1 billion in the country since start of operations in 1996.
