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SAIC To Acquire General Motors’ Halol Plant
SAIC has already confirmed its India entry with its subsidiary brand, the MG Motors India.
Shanghai Automotive Industries Corporation (SAIC) has already confirmed its India entry with its subsidiary brand, the MG Motors India.
Now, SAIC has signed a Memorandum of Understanding (MoU) with the state government of Gujarat for setting up its manufacturing plant.
SAIC will take over General Motors' Halol manufacturing facility. Gujarat government has assured the automaker to grant registration and necessary approvals for the project.
The newly signed MoU reveals that SAIC will provide employment to around 1,000 workers at its Gujarat plant. The automaker is planning to invest Rs 2,000 crore in India. Apart from that Chinese automotive suppliers are planning to invest Rs 1,000 crore in setting up units in the plant.
SAIC has set a goal to produce around 50,000 to 70,000 units when the plant becomes operational in 2019. Information regarding the products under the MG brand will be revealed in the coming months.
DriveSpark Thinks!
SAIC has been in talks with the Indian government for a long time. The automaker was keen to enter the Indian market. And now it has finally acquired the GM's Halol plant. It will be interesting to see the product portfolio under the MG brand.
