Talking to reporters after the launch of 'SMARTECH' engine, General Motors India president and managing director Karl Slym said diesel version of the vechile was also be out later this year.
Talks between Piaggio Vehicles, the Indian subsidiary of Piaggio & C.s.p.a of Italy, and General Motors for engine sourcing fell through.
American car maker General Motors on Thursday said it has shelved plans to launch small car in India that was planned to take on Tata Motors' 'Nano', citing viability issues.
General Motors India, the joint venture company of General Motors, US, and Shanghai Automotive Industry Corporation, China, is looking to sell small-capacity engines made from its Maharashtra plant to companies willing to have a sourcing pact with it.
US President Barack Obama on Thursday hailed the return of General Motors to the US stock exchanges, saying that one of the toughest tales of the global economic recession had taken a big step towards becoming a success story.
This is GM's first flexi engine plant where both petrol and diesel small car engines would be manufactured together, General Motors India, vice president, P Balendran, told reporters in Kochi.
The offer would help enable General Motors India to increase sales of its all models including the recently launched Chevrolet Beat.
The GM-SAIC tie up follows GM India-Reva collaboration to launch electric vehicles in the market.
The new models will debut in India for the first time and will consist of hatchbacks, sedans, multi-utility vehicles and passenger vans under the Chevrolet and GM-SAIC-Wuling banner.
There is another common trend among these three players - they are all registering a volume decline in a market that is expanding at over 8 per cent
The company currently sells various vehicle brands in the country ranging from hatchback Spark to sports utility vehicle Captiva, priced between Rs 333,000 and Rs 25.71 lakh (Rs 2.57 million), respectivley, (ex-showroom Delhi).
General Motors India would roll out its BS IV version of Sports Utility vehicle Tavera in the country by next year, a top company official said on Tuesday
General Motors is working on an app for the iPhone and rival Google phone for some of its cars sold in the United States.
The Halol facility is projected to operate in three shifts to cater to production of LCV's and the automaker plans to hire new suppliers for it as well.
Powerful cars like the Camaro and Corvette might be sold via special boutiques in small numbers.
General Motors India on Friday said it will double production from its Talegaon facility from March onwards, four months ahead of schedule, to meet increased demand in the market, and will also hire 800 people in the next seven to eight months.
GM India at present, has two small cars in its portfolio -- the Chevrolet Spark and the Chevrolet Beat, which were launched on Monday.
"We are pleased to join hands with Reva to bring affordable small car platform-based electric vehicles to the market in line with government objectives to reduce fossil fuel dependence," General Motors India, the Indian subsidiary of GM, President and MD Karl Slym told reporters in New Delhi.
The company also said the falling sales of General Motors India, the wholly-owned subsidiary of the US firm, were mainly because of customers' perception on the months-long uncertainty over the future of GM, which finally filed for bankruptcy protection in a New York Court on Monday.
Come New Year, cars will be costlier with automakers like Toyota and General Motors on Tuesday saying that they will hike prices by up to three per cent due to rising input costs, while the country's largest car maker Maruti Suzuki India is still evaluating the situation.
Toyota Motor Corp is likely to have retained its position as the world's best-selling carmaker for the first nine months of the year, beating rivals General Motors Co and Volkswagen AG, company figures showed on Monday.
Leading automakers such as Tata Motors, Skoda, Mahindra & Mahindra, Mahindra Renault, General Motors and Bajaj have production facilities or offices in Pune, the epicentre of H1N1 virus, and other parts of Maharashtra. The swine flu has claimed 10 victims in Pune and scores have tested positive in the region.
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Currently, the company employs about 219,000 people worldwide.
General Motors said the Chinese industrial machinery group Tengzhong would acquire the rights to the premium off-road Hummer brand, along with the senior management and operational team. The car maker noted that the deal is anticipated to secure more than 3,000 US jobs in manufacturing, engineering and at Hummer dealerships around the country. The transaction is expected to close in the third quarter of 2009. However, the financial details have not been disclosed.
The outsourcer said it is supposed to get $8 million from the US firm. Wipro further added that it is in constant talks with the firm to monitor and assess the situation.
The three bidders in the running are Italian carmaker Fiat, Canadian car parts group Magna and Belgium-based financial investor RHJ International, the report said. The report noted that German chancellor Angela Merkel would meet top officials from the US, General Motors and the bidders for GM's European units Opel and Vauxhall on Wednesday.
The Chevrolet Aveo is available in the Indian market with a starting price of Rs 597,000.
Karl Slym, president and managing director of General Motors India Private Limited, said the company would launch Chevrolet Cruze, its new offering in the Chevrolet Spark segment, by third quarter of its financial year ended December 2009. Slym added, "The car will be priced similar to Chevrolet Spark. As far as the minicar is concerned, we are not competing with Tata Motors' Nano, which is a different segment."
The judge overseeing GM's Chapter 11 case has set Friday as the deadline for objections to its restructuring plan. The report noted that GM and its advisers are confident that none of the roughly 500 objections submitted so far would derail the timetable, under which the court is due to consider the sale of most of its assets to a new entity on June 30.
US-based General Motors plans to launch 40 new products in international markets including India, where it is focusing on a turnaround.
How President and Managing Director Karl Slym is steering General Motors India after its US parent filed for bankruptcy.
The company's Indian subsidiary General Motors India has already announced a total of $500 million investments in the country to set up new car and power-train manufacturing facilities and it will be hiring 500 people in the second-half of next year. The company, which employs a total of 1,600 people in its engineering and research and development centre at Bangalore, will be enhancing the manpower strength there.
General Motors is now worth just a few millions in stock valuation whereas the auto maker boasted of a market capitalisation of nearly $11 billion, exactly a year ago. With the iconic auto maker all set to steer itself into bankruptcy, each share of the company is just than a penny in value. At the closing of the market on May 29, the scrip of General Motors was available for as low as 750 cents and the market capitalisation stood at $457.2 million.
According to the daily, the move comes as the government is getting ready to lift another auto maker Chrysler from bankruptcy protection 'as soon as next week'. Attributing to a source, The Washington Post said under the GM draft bankruptcy plan, the company would receive just short of $30 billion in additional federal loans.
Beleaguered American auto maker General Motors is in emergency talks with its lenders over a multi-billion dollar debt-for-equity deal which could save the company from filing for bankruptcy, a media report on Sunday said.
General Motors India, 100 per cent subsidiary of General Motors Corporation, on Thursday said the company's entry level Chevrolet Spark has crossed the mark of 3 million customers globally.
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