[BoneCollector]

Hyundai signs up the Asset Purchase Agreement for the Talegaon plant of GM.


Hyundai News

The Asset Purchase Agreement (APA) covers assignment of land and buildings and acquisition of identified assets at General Motors India’s Talegaon Plant.

Manufacturing operations at the plant are planned to commence in 2025, augmenting Hyundai Motor India’s manufacturing footprint.

As part of Hyundai’s resolute commitment to the Indian automotive industry, with the Sriperumbudur (Chennai) and Talegaon plants, Hyundai Motor India aims to cumulatively achieve a production capacity of 1 million units a year.

Leveraging the expanded capacity, HMIL will review plans to launch additional electric vehicle models into the Indian market, manufactured at its Sriperumbudur plant, thus accelerating India’s electrification goals.

Link

The first Hyundai SUV will roll out from this plant in 2025; will help the brand reach its annual manufacturing capacity target of one million units.

The commercial sale agreement was signed between the two parties on Wednesday morning in the National Capital Region. Our sister publication Autocar Professional had exclusively reported a week ago on a potential conclusion of sale in August. Unsoo Kim, managing director and CEO of Hyundai Motor India Ltd, and Asifhusen Khatri, vice president, Manufacturing of General Motors India and General Motors International Operations, participated in the signing ceremony in Gurugram, Haryana.

[r2212xx]

Originally Posted by BoneCollector

Hyundai signs up the Asset Purchase Agreement for the Talegaon plant of GM.

Great news. Hope this eventually translates to shorter waiting periods for customers at the showroom level.

[saikishor]

Final hurrah to GM I guess. Wonder what will be the parts scene post this, as I remember reading GM has a parts distribution center in Talegaon.

[Aditya]

Hyundai to acquire General Motors' Talegaon plant - Posts moved to a new thread.

[anjan_c2007]

So Maharashtra gets another car maker added to its list. The #2 sometimes #3 car maker viz. Tata has its plant in Pimpri, Pune, while Mahindra the #4 has its plant in Chakan, Pune.

So other than the #1 car maker, the rest three upto #4 are in Pune, though they also have manufacturing bases elsewhere.

[RaghuVis]

Excellent decision.

Let me quote my own post in another thread during the Exter launch.

Originally Posted by RaghuVis

But my question is totally off-topic. Hyundai is already on the third shift in their current plant and they could not buy any of the Ford plants. This means that assuming they dispatch 10K Exter at least the first few months to show the world that it is selling as well as Punch, they will need to de-prioritize these numbers from other cars.

So who is going to bear the brunt? I am assuming production will be cut from all models so that it doesn't look too bad overall. The obvious choice will be Grand I10 as they share the same assembly line. But their dispatches have already been too low and they can't risk reducing it too much. Venue is one car that they can make way for Exter. I am looking at a substantial drop in the dispatch of Venue for the next few months. Creta is the cash cow so they won't touch it. Verna is too new to disturb. Alcazar's numbers are already low. The next possibility is to cut the volume from I20. With Altroz CNG, Tata is hoping to dispatch more cars into showrooms than I20. Hyundai needs to ensure that it reads the market very carefully.

Everyone including Hyundai, needs to learn from MSIL how meticulously they plan these things

So by 2025, they will have a huge plant and would not need to limit production on their best-selling cars -- Creta, Exter, Venue, I20 etc. as well as bring in new cars. Exciting times ahead!

[abhkop]

Finally a closure for two long-pending questions: Who is going to acquire the GM plant at Talegaon? & When will Hyundai increase its production capacity?

[HowDifferent?]

Originally Posted by abhkop

Finally a closure for two long-pending questions: Who is going to acquire the GM plant at Talegaon? & When will Hyundai increase its production capacity?

And another question that is not answered yet. Who is going to take up the Ford plant at Chennai? Doesn't look like this question is going to be answered soon.

[anjan_c2007]

Another point worth noting is that the Talegaon plants full potential will be realised only now, post the Hyundai takeover. The General was going nowhere with just the few Sparks and Beats, Aveos, Optras, Cruzes and Taveras rolling out, which the GM balance sheets were not Enjoy (ing) had become evident.

Now with Hyundai, it will not take time to see six figure annual production figures from Talegaon.

[volkman10]

Maharashtra government asks GM to increase severance pay for striking workers, Hyundai Motors to absorb workforce.

The Maharashtra government has asked Hyundai Motors, which has purchased the GM India plant, to consider absorbing some of the striking workers when it aims to begin operations in 2025.

It has also recommended that General Motors increase the severance package offered so that workers who wish to leave are rewarded "handsomely."

Link

[volkman10]

Talegaon plant workers likely to drop legal options, Hyundai close to GM plant acquisition.

The Workers union has softened its stand to compulsorily hire the 900 workers with the Maharashtra government stepping in to offer compensation of Rs 25 lakh to each impacted worker.

This will be Hyundai Motor’s first investment beyond Tamil Nadu its current home base.

Link:

[TusharK]

Hyundai completes acquisition of GM India's Talegaon plant

Hyundai has completed the acquisition and assignment of identified assets at General Motors India’s Talegaon plant in Maharashtra.



Hyundai recently signed a memorandum of understanding (MoU) with the government of Maharashtra at the World Economic Forum in Davos. The carmaker also committed to an investment of Rs 6,000 crore.

The Talegaon plant has an annual production capacity of 1,30,000 units, which the company plans to expand further. Hyundai will make phased investments to upgrade the existing infrastructure and manufacturing equipment at the facility.

Hyundai expects the Talegaon plant to become operational in 2025.

Link to Team-BHP News