Chevrolet’s local chief is bullish about prospects in India as he prepares to officially open a new engine plant next week.
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“We are bringing in four passenger cars and two commercial vehicles in the next two years in 14 fuel variants,” General Motors India president Karl Slym told just-auto in New Delhi at a vintage car rally organised to mark 100 years of the company. “We are also planning a model in the small car arena as well,” he added.
Chevrolet is gearing up to officially open its new engine plant in Pune.
“We will formally inaugurate the flexi-engine plant on 12 November in Talegoan, Pune,” Slym said.
The plant will manufacture 160,000 units a year and is the first GM facility to make both petrol and diesel small car engines together. Capacity can be increased by another 160,000 cars and 140,000 engines annually in a second phase to take total Talegoan output to 300,000 cars and 300,000 engines annually.
The company also plans to make its Halol facility its commercial vehicle hub.
“We are planning to invest US$250m more in the Indian market,” said Slym. This will be on top of the $1bn spent to date.
The automaker has developed local suppliers and awarded component supply contracts worth $500million. It plans to source components worth $1bn in the next two years for its global operations.
Slym is content with GM India’s performance year to date. “We have grown by almost 79% in the first 10 months of 2010 and are sure of surpassing the 100,000 mark this year,” he said. The company sold 69,500 units in 2009.
