China's SAIC to buy stake in GM India?

1 min read•5 Oct '09

Staff Writer

3K+ views

Rumours are flying thick and fast in the Chinese media that Shanghai Automotive Industry Corporation has bought a controlling stake in GM India's Talegaon plant and is the biggest shareholder of this greenfield facility which can produce 140,000 units per annum.

According to company sources, SAIC has just finished formalities if this deal and a public announcement can be expected soon. SAIC, which partnered with GM to form Shanghai GM, SAIC-GM-Wuling Automobile and the Pan-Asia Technical Automotive Center. SAIC also partnered the VW Group in the formation of the Shanghai Volkswagen Automotive, has several subsidiaries and makes a wide range of products from commercial vehicles to mini-cars.

By joining hands with GM India, SAIC has immediate access to the Indian market for its products. According to sources, the first model to come out of the Talegaon plant from the new shareholders will be the SAIC-GM-Wuling mini-car. There are several other projects being evaluated which include a wide range of models from China, but nothing has been confirmed. GM India is silent on the subject.

Suggested News

Nissan unveils next gen Micra for India

Nissan has officially unveiled its sketches of the its new global compact car or the next generation Micra which goes on sale in mid-2010.

1 min read•1 Oct '09

Staff Writer

GM India and REVA join hands

After much anticipation, an official announcement has been made regarding GM India and REVA entering into a collaboration agreement to develop electric vehicles for the Indian market.

1 min read•24 Sep '09

Staff Writer

New Mercedes E-class launched

Mercedes-Benz has launched a brand new E-class 350 in India, just ahead of the festive season. The E-class 350 Avantgarde is priced at Rs 46.98 lakh (ex-showroom Delhi).

2 min read•23 Sep '09

Staff Writer

Ford Figo unveiled

Ford has never been more serious about India. It’s clear that Ford wants to leap into the big league alongside Maruti, Hyundai and Tata, which is a huge challenge, which is why the company is throwing everything behind its new hatchback. The all new Ford Figo.

2 min read•23 Sep '09

Staff Writer

Honda launches facelifted Civic

Honda's hugely popular executive car the Civic received the long awaited mid-life upgrade yesterday. The Civic largely remains unchanged but the new S-MT model gets two tone fabric seats with matching door panels. The V-MT and V-AT variants feature a steering mounted cruise control, chrome rimmed fog lights and a new design for the alloy wheels.

1 min read•17 Sep '09

Staff Writer