• search

General Motors India to invest Rs 100 cr in 2006

Written by: Staff
|

Kolkata, Mar 22: General Motors India, the wholly owned subsidiary of the world's largest automaker General Motors Corporation, will invest Rs 100 crore in 2006 to fund the new models launch and capacity expansion at its plant at Halol in Gujarat.

"We have already invested Rs 1400 crore in the Indian operations.

We will invest another Rs 100 crore to scale up operations and launch new models this year," GM India's vice-president (marketing, sales and after sales) Ankush Arora told reporters here today.

Mr Arora was in the city to launch the "Chevrolet Aveo" the first of the three new Chevrolet products debuting in the first six months of 2006.

The Aveo is priced between Rs 5.5 lakhs to Rs 6.8 lakhs.

Aveo will be joined by Aveo U-VA and Optra SRV in the coming months, he said.

The capacity of GM India's Halol facility is being increased to 85,000 units from the present 60,000 units. The company currently produces the Chevrolet Optra and Chevrolet Tavera in the Halol plant.

GM India has set a target of selling 50,000 units in 2006 as against 30,837 cars sold in 2005.

UNI

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more