GM $ 1 billion plan for India on hold |
General Motors has put on hold its investments on new models for India as the US auto major undertakes a full review of its future product portfolio in the country. The company, which had in 2015 announced plans to invest USD 1 billion to enhance manufacturing operations and roll out 10 locally produced models, has not put any timeline for lifting freeze on investments on the new products. The company says. given the shift in customer preferences in India, it is conducting a full review of its future product portfolio and have put on hold future investment in our all-new vehicle family for the market until it firms up its product portfolio plan. While announcing USD 1 billion investment for India in 2015, General Motors CEO Mary Barra had said the company would strengthen business in India, China, Mexico and Brazil through the development of a new family of vehicles known as Global Emerging Markets (GEM) platform. Although SUV Trailblazer has been launched for the Indian market, multi-purpose vehicle Spin, which is among the planned new models, is yet to be launched. Currently, the company`s arm General Motors India sells a range of vehicles, including hatchback Beat, sedan Cruze and multi-purpose vehicle Enjoy, among others.
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