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China based Great Wall Motors is close to closing a deal with American auto manufacturer, General Motors Company, to acquire its manufacturing facility based at Talegaon in Maharashtra.
According to Livemint, Great Wall Motors has signed a Memorandum of Understanding with the GMC, and rumor has is that the Chinese manufacturer is likely to pay between USD 250 million and USD 300 million for the manufacturing facility.
Great Wall Motors is also in talks with the State Government of Maharashtra for what could be possible incentives for the Chinese company.
The facility, located at Talegaon, is capable of producing 1.65 lakh vehicles per annum. The plant is also capable of producing 1.60 lakh powertrains. This will be General Motors Company's second plant that is being sold. General Motors sold their Halol facility during 2017 to China based SAIC.
Great Wall Motors has been actively searching for land and existing factories in the country in order to begin its India operations. Should they acquire the Talegaon facility, GWM will be able to launch operations faster.
The Chinese auto giant will launch its Haval brand of Sport Utility Vehicles in India, and will showcase then at the Delhi Auto Expo this February.
In related news, Great Wall Motors recently said ‘Namaste India' to its new target market via its Twitter handle. The end of the teaser video shows a silhouette of an SUV that could most likely be the Haval H6. The SUV has was spotted a couple of weeks ago while testing in the country.
Great Wall Motors is expected to launch four products under its Haval brand - the Haval H2, the H4, the H6, and the H9. Speculation is that the H4 will be first model to be made available in the Indian markets. To read more, click here.
Thoughts About Great Wall Motors In The Process Of Acquiring GMCs Talegaon Facility
This is definitely good news for Great Wall Motors. It is definitely better to acquire an existing facility. This will help the Chinese manufacture save on capital investment and will facilitate a faster launch in the Indian market.