New Car Engine Plant from General Motors in India
India is now the second largest mobile phone market in the world. India has similar potential when it comes to the car market. Of course, India is not a rich country but still, the size of middle class population in India is almost the same size of the population of the US. Anyway, India is an important and rapidly growing market for the auto manufactures. General Motors (NYSE:GM) is struggling these days in many parts of the world. GM has taken Indian market seriously.
Reuters wrote:
General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) said on Thursday it would invest more than $200 million in a powertrain plant in India, as the troubled U.S. carmaker aims to double its share of a fast-growing but increasingly competitive market.
The facility, which will be located in Talegaon in western Maharashtra state at the site of GM’s second vehicle plant in India, will have an annual capacity of 160,000 units that can be expanded to 300,000 units, GM said in a statement.
Right now, GM brings the engines for the cars from other countries and then they make cars in India. It will surely cut some expenses for the company in India. Of course, Generally Motors now wants to cut back on every expense possible.
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