General Motors Puts Off Its Billion Dollar Investments In India

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General Motors has put on hold its billion dollar investments in India as the American company is looking to review its future operations in the country.

GM Puts Off Its Billion Dollar Investments In India

In 2015, the company had announced to invest $1 billion to enhance its manufacturing operations and to launch 10 new products in India. GM has not put any timeline for lifting the freeze on investments to locally produce vehicles.

GM Puts Off Its Billion Dollar Investments In India

The company feels that there has been shift in customer preference in India and they are conducting a full review of their future product portfolio and have put on hold future investment in their all-new vehicle family for the market until they firm up our product portfolio plan.

GM Puts Off Its Billion Dollar Investments In India

While announcing the billion dollar investment in 2015, GM CEO Mary Barra said that the company would strengthen its business in India, China, Mexico and Brazil via the development of a new family of vehicles known as Global Emerging Markets (GEM) platform.

GM Puts Off Its Billion Dollar Investments In India

GM is looking to see if their future investments will generate significant shareholder value and will focus on sustainable profitability.

GM Puts Off Its Billion Dollar Investments In India

The company will continue to consolidate their manufacturing operations in Talegaon for both domestic markets and exports, with exports continuing to be an important aspect of their operations in India.

GM Puts Off Its Billion Dollar Investments In India

GM in India sells a range of vehicles, including hatchback Beat, sedan Cruze, and MPV Enjoy, among others.

GM Puts Off Its Billion Dollar Investments In India

In 2016, GM India tripled its exports when compared to 2015 with 69,390 Chevrolet Beat which was shipped to Central and South America.

GM Puts Off Its Billion Dollar Investments In India

American carmaker, Ford Motor Co. has launched the all-new Endeavour SUV in India loaded with features. Below is an extensive photo gallery of the Ford Endeavour, click to view.

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Story first published: Monday, January 23, 2017, 10:04 [IST]
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