General Motors to invest Rs 3,150 cr this year

Kolkata, May 28 (UNI) General Motors(GM) India, the subsidiary of GM Corporation, the largest auto-maker in the world, will invest Rs 3,150 crore in the current year in its two factories and a technology centre.

Speaking to mediapersons here today, GM India Managing Director Rajeev Chaba said, ''We are committed to invest Rs 1,300 crore in the Talegaon factory near Pune which will have a capacity of manufacturing 1,40,000 vehicles. We are planning to commence production in this factory by 2007-08.'' He added that the company would also invest Rs 1,400 crore in its existing factory in Halol near Baroda to increase the production capacity from 60,000 units to 85,000 units per year. GM India would also develop a technology centre in Bangalore with an investment of Rs 450 crore.

''GM aims to be a major player in the mini-car market in India.

With that aim we have planned to make such a huge investment,'' Mr Thaba elaborated.

GM India presently manufactures Chevrolet Optra, Tavera, Aveo, Aveo U-VA and Chevrolet SRV from its Halol plant. It would manufacture the newly-launched Chevrolet Spark from its Talegaon factory, Mr Chaba informed.

In order to boost car sales in India, the company expanded its dealership network from 76 to 95 this year. Besides, two new pass distribution centres were set up in New Delhi in addition to Gujarat and Maharashtra.

UNI