China's biggest carmaker SAIC may buy General Motors' Halol plant
GM had, last year, announced its plans of exiting the plant in Gujarat as it plans to consolidate manufacturing at the Talegaon plant.
China's biggest automobile manufacturer SAIC Motor Corp is planning to buy General Motors' Gujarat factory.
According to reports, the company is currently doing its due diligence of the manufacturing unit at Halol in Gujarat. General Motors is expected to exit the plant by July as it looks to consolidate operations at its Talegaon plant in Maharashtra.
The company partners with GM in China. If the deal comes through, SAIC will be the first Chinese automobile company to start manufacturing in India.
According to an ET report, the company may manufacture the Cruze sedan and Tavera and Enjoy MPVs for GM India on a contractual basis.
The Halol facility has the capacity to make 1.1 lakh cars annually and employees around 1,100 works, most of whom the new company is likely to retain.