General Motors to start exporting cars from India
MUMBAI (Reuters) - General Motors (GM.N) India said it would begin exporting vehicles from the country and start selling a left-hand-drive version of its Chevrolet Beat hatchback to Chile in the first quarter of 2015.
The company said it would begin production of the cars meant for export at its Talegaon plant, located in western India, in the second half of this year.
General Motors has two factories in India that can build a combined 282,000 vehicles annually, but it has been utilising less than a third of their total capacity.
GM sold nearly 81,000 passenger vehicles in India in the fiscal year ended in March for a market share of 3.2 percent, according to data from the Society of Indian Automobile Manufacturers.
Global automakers, including Ford Motor Co (F.N), are keen on making India a regional export hub, especially for small cars, taking advantage of it as a low-cost manufacturing base.
(Reporting by Aradhana Aravindan; Editing by Anupama Dwivedi)
- Tweet this
- Share this
- Digg this
- Jindal Steel shelves $10 bln project after coal setback
- West not expected to demand Iran atom bomb "mea culpa" in deal
- U.S. seeks to step up India trade talks after WTO breakthrough
- Bomber targeted police commander in Afghan volleyball game attack
- India targets private cash to build railways to its ports
The main opposition Congress party signalled on Monday it could support government legislation to liberalise the insurance industry, a long-delayed reform expected to help improve investor confidence. Full Article
Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets Full Article