Published On:July 31 2015
Story Viewed 54577 Times
GM to invest Rs. 6,400 cr to extend Talegaon plant in Maharashtra.
The world’s third-largest automobile maker General Motors recently signed a letter of offer with the Maharashtra government to invest Rs 6,400 crore at its existing Talegaon facility in Pune for further expansion, to export its various models. The letter of offer was submitted by GM chief executive Mary Barra to state chief minister Devendra Fadnavis, who was accompanied by the state industries minister Subhash Desai.
According to the government release, GM’s Talegaon plant has a capacity to manufacture 1,70,000 units annually and it has invested Rs 4,300 crore to produce a range of cars, including the Beat, Sail and Spark. The company after catering to the domestic market commenced export in 2014 with a shipment to Chile.
The facility, built over 300 acres, was leased by the state-run Maharashtra Industrial Development Corporation for 95 years and had generated initial employment for 1,000 people.
It has further invested $200 million to manufacture power trains with an initial production capacity of 160,000 engines, expandable to 300,000 engines and an employment of 1,400 people.