General Motors said on Wednesday that it hopes to sign a deal to buy Daewoo India’s car plant in the next three months that will help it boost its share in India’s booming mini-car market, Reuters reported.
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The US company, in India since the mid-1990s, announced in March it was beginning due diligence of Daewoo’s shut plant which it planned to use to make a small car to meet competition from the local units of Suzuki and Hyundai, Reuters said.
The Reuters report added that GM Daewoo boss Nick Reilly told reporters at a vehicle launch the deal was a complex one but he was optimistic GM would sign “definitive agreements” to buy the car assembly plant over the next few months.
