China’s Great Wall Motors to acquire GM’s Talegaon plant

Great Wall, one of the biggest sellers of SUV in China, plans to enter India with its Haval and electric vehicle brands and will announce detailed plans at the 2020 Auto Show.

MUMBAI : China’s Great Wall Motors Co. Ltd (GWM) is set to acquire General Motors’ (GM) Talegaon manufacturing plant near Pune, the two companies said on Friday, without divulging financial details.

Two people aware of Great Wall’s plans said, requesting anonymity, that the company has earmarked ₹1,500-2,000 crore (1000 crores (or 100000 lakhs) is equal to 10000 million (10 billion). 10,000,000,000 INR is equal to 140,900,000 USD @ 70.97 Indian rupees to 1 US dollar.) to establish its brand in the Indian market.

“The total investments will include the cost of acquiring the Talegaon plant, which could be about ₹700 crore, along with equipment installations, assembly lines, new product development, manpower and processes, among others,” said the first person.

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