Hyundai to acquire General Motors India Talegaon plant

The GM plant in Talegaon is spread across 300 acres and has the capacity to produce 1,65,000 vehicles and an engine plant to make 1,60,000 engines.

Hyundai Motor India (HMIL), one of the leading passenger vehicle makers in the country has signed a ‘Term Sheet’ for the potential acquisition of identified assets related to General Motors (GM) India, Talegaon Plant in Maharashtra.

The General Motors Talegaon plant has seen interest from a variety of OEMs, including Mahindra Group, MG Motor India and even Great Wall Motor (GWM). The American carmaker had signed a $300 million (Rs 2,475 crore) deal with Chinese automotive company, Great Wall Motors (GWM), for selling the Talegaon plant, but failed to secure regulatory approval from the Indian government because of geopolitical tension with China.

But now, Hyundai Motor India has proposed the acquisition of land and buildings and, certain machinery and equipment for manufacturing situated at General Motors India, Talegaon Plant. The proposed acquisition is subject to the signing of the ‘Definitive Asset Purchase Agreement’ and fulfilment of conditions precedent and receipt of regulatory approvals from relevant government authorities and all the stakeholders related to the acquisition.

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