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.

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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.