SAIC India is expected to launch cheaper, value for money cars…
Of late, reports of GM shutting (retail) shops in India have been circulating widely. It was rumoured that SAIC Motor Corporation Limited of China has signed an agreement with General Motors for the Halol Plant and they may take it over from the ailing brand in India.
However, in an official communication circulated to the media, SAIC has denied any formal agreement related to Halol plant with GM. However, they have accepted that they were evaluating the plant and have confirmed its Indian entry. They say that they are considering all options to set up a car manufacturing facility in India.
Here is the official word…
“SAIC Motor Corporation has seen some reports in the media about SAIC signing an agreement with GM to take over its Halol Car Manufacturing Plant. It is clarified that SAIC has not signed any formal agreement with GM for the Halol Plant. Few months back, SAIC signed a term sheet to evaluate the Halol Plant which has been conveyed in a filing to Shanghai Stock Exchange, SAIC being a listed company there. SAIC’s Halol Plant deal is subject to GM’s submission of all government approvals, settlement of labour and all other pending issues by GM. However, SAIC’s decision to enter into the Indian market remains unchanged and the company continues to evaluate various options to set up a car manufacturing plant in India as early as possible.”
GM and SAIC are partners in China and cars like Enjoy you see in India are rebadged models sold in the home market under different names. SAIC is one of the largest car makers in China and is known to make value for money cars.
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