As a part of its effort to strengthen presence in the emerging market, Chevrolet today announced an investment of $1 billion in India, with plans to introduce 10 new models in the next five years. The carmaker revealed plans to launch the Trailblazer SUV by October this year and the Spin MPV, early 2017. Chevrolet also has plans to introduce the new Cruze, the Beat hatchback, as well as Beat notchback.
The investment will be made at the carmaker's Talegaon plant, near Pune. Plans have been made to ramp up production to in this facility to 220,000 units by 2025, up from the current 130,000 units. The Halol plant in Gujarat, on the other hand, will be shut down before the second half of 2016.
The investment was announced by Mary Barra, CEO, General Motors at an event in Delhi today. This investment is a part of the company's global plan to invest $5 billion to strengthen business in emerging markets through the development of an all-new vehicle family which will include the remaining five models. These vehicles will be developed in collaboration with Shanghai Automotive Industry Corp — parent company General Motor’s primary partner in China.
The carmaker intends to manufacture and sell vehicles in several markets including Brazil, China, India and Mexico, and will also actively pursue exports to other markets. Moreover, Chevrolet plans to achieve a high level of localisation of parts in order to drive savings; a practice actively being adopted by other carmakers as well in India.
“This new vehicle family will feature advanced customer-facing technologies focused on connectivity, safety and fuel efficiency delivered at a compelling value,” said Mark Reuss, Executive VP, Global Product Development, Purchasing and Supply Chain, GM. “It will be a combination of content and value not offered previously by any automaker in these markets that are poised for growth,” he added.
Viraaj Bhatnagar
Uday Singh
Suraj Viswanathan
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