- Thursday, February 27, 2025
Four years ago, General Motors decided to sell the plant to Great Wall Motor, China, but the plan did not succeed.
By: Shubham Ghosh
TOP South Korean automaker Hyundai Motor Company on Wednesday (16) announced that its Indian unit will buy General Motors’ plant in Talegaon in the western state of Maharashtra.
The Korean company, through its Sriperumbudur facility outside Chennai in the southern state of Tamil Nadu and now the plant in Talegaon, looks to increase its cumulative annual production capacity of one million units, according to reports.
In 2022, Hyundai sold more than 552,500 vehicles in India.
However, the company, which is India’s second-largest carmaker in terms of sales, did not divulge a deal value.
The deal will also allow General Motors, a US company, to exit India, according to Reuters. The automaker halted selling cars in India in 2017 after its sales dwindled but its complete exit from the market was hit by complications, including legal problems with workers and inability to find a buyer for the Talegaon plant.
Four years ago, General Motors decided to sell the plant to Great Wall Motor, China, but that plan also did not succeed. The talks failed last year as the companies failed to get regulatory approvals at a time when investments from China in India have come under increased scrutiny by New Delhi.
