General Motors India and its Chinese joint-venture (JV) partner, Shanghai Automotive Industry Corporation (SAIC), will roll out 1-3 tonne light commercial vehicles by end-2011. Shortly after this, the two companies would look to launch passenger cars, president and MD of GM India Karl Slym said on Thursday.
Following the JV announcement earlier this year, GM India?s board has also undergone a change. The six-member board will now have three members who are from China. ?Following the JV, even the board is now going to have representation from SAIC…I am one of the board members,? Slym said. The new board has been operational since February 1, 2010. Slym said that though the company is yet to decide on the branding for the LCVs, passenger cars would be rolled out under the brand name of Chevrolet. He also said that the company would be investing at least $50 million to upgrade facilities at Halol (Gujarat). This investment plan of GM was first reported by FE.
At the time of announcement of the 50:50 joint venture between GM and SAIC, the company was expected to invest $350 million (around Rs 1,620 crore) in the India initiative. Products from this joint venture would be exported as well.
GM India currently manufactures the Chevrolet Spark, Chevrolet U-Va, Chevrolet Aveo, Chevrolet SRV, Chevrolet Optra Magnum, Chevrolet Cruze, Chevrolet Tavera and Chevrolet Captiva at its two state of the art facilities in Halol and Talegaon.