It seems that the Indian automobile market buoyed by the impressive 31% growth in 2010, has made many a global majors to don their thinking hats. Almost all the major auto makers are eying to either venture or expand their current base in India.
It has been reported that the one amongst them, General Motors, which is known for its Indian focus in recent years, is looking forward to manufacturing commercial grade automobiles. The Economic Times, a business daily reported that GM has recently announced its intent to invest a whopping RS 2,000 crores in its local facilities across India over a period of 3 years. Of the total amount 70 percent will be invested in 2011-12.
It is been widely speculated that the company would make an announcement soon, of a new investment to the tune of Rs 7,000 crores at Halol. In effect, converting the facility at Halol into a full-fledged commercial vehicle hub while at the same time increasing the production level to 1, 05,000 units per annum. It is mentioned further that GM will invest an additional Rs 1,300 crores at its plant at Talegaon for increasing the production capacity to 1, 60,000 per annum.
A slew of new products is in the pipeline raring to be launched in the Indian market. According to the reports, other good news for Indian techies is , GM is increasing its technical workforce at their Bangalore centre .
It has been reported that GM would launch 2 basic Commercial vehicles in the initial phase- a pick up and a van with 1 tonnage capacity. Multiple body variants will be made available. These commercial vehicles are expected the hit the roads in 2012.