Great Wall Motors could acquire GM's Pune plant

According to a media report, China-based Great Wall Motors is close to acquiring General Motors' (GM) manufacturing plant in Talegaon, near Pune. The deal could be finalized for US$ 250-300 million.

Neither GM nor Great Wall have confirmed these reports. At present, the Talegaon plant manufactures 50,000-70,000 cars for export markets.

Great Wall Motors had approved an investment of US$ 1.6 million in February 2019 to set up an Indian entity under the name Haval Motor India. The carmaker had reportedly signed a memorandum of understanding (MoU) with General Motors for acquiring the Talegaon plant.

Last week, Great Wall Motors confirmed its entry into the Indian market. It will showcase its products at the 2020 Auto Expo. The company is one of China's largest SUV manufacturers. In India, it is likely to focus on SUVs with petrol, hybrid and electric powertrains.

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