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Chevrolet Beat Diesel From June
The diesel vehicle mongers hereinafter has one more choice to choose from - the launch of Chevrolet Beat diesel version - General Motors in this June. This was disclosed by the company"s VP who briefed that there will be 1.0 lit diesel engine production from the same period. The Chevrolet Beat will get the diesel engine from the Talegaon facility of the Chevrolet and there has been an investment of $230 million to have 1.60 lakh units per year. He said though Beat has no potential to accrue huge volumes for the company, there is a need to increase the units gradually. He said the venture has already invited an investment of $1 billion in this regard.
The move to install engine plant in the domestic market will see localization of components to 95%. The later part of this year will see the launch of Euro-IV variant of SUV Tavera, as a part of its association with ICML of Sonalika Group. He said the Euro -IV version of Tavera may be launched during the middle of this year. General Motors derive engines of Euro -III version from the UK concern Avtec International for its Tavera model cars. In an expansion spree, GM is to shell out $300 million for launching six new models in another two years. The financial accumulation of this 300 million US dollars will be by way of partial loans and internal accruals, he added, who also mentioned that there will be a fall down in the growth of auto industry due to the increased bank rates on loans.
The new models will include a sedan, an SUV, a pick-up vehicle, an MUV, the upgraded premium SUV Captiva and a small car. He further said the growth in 2010 was 31% from which GM grew with 60% and in spite of the projected fall in this year, GM could still retain at least a growth of 40%. The sale volume for the Chevrolet during last year was 110804 units from 69787 units of 2009 making a growth of 59.6%. The Chevrolet has the personnel and manpower strength to 4000 comprising Talegaon and Halol plants, R&D wing in Bangalore, said its Senior Regional Manager.
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