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
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.