Rumour: JSW to buy GM's Pune plant to build EVs

According to media reports, General Motors could sell its manufacturing plant in Pune to JSW Energy Ltd. for about Rs. 3,500 crore as the latter plans to enter the automotive business with a new electric car priced in the Rs. 12-15 lakh range.

GM's last remaining manufacturing unit in India is based at Talegaon near Pune. It is spread across 300 acres and has an annual capacity of 1,30,000 units. Currently, the factory produces the Beat hatchback for export markets. Reports suggest that the factory is valued between Rs. 3,000-3,500 crore, which includes the cost of the land, engine assembly line and car assembly line.

While it has been reported that the JSW Group is in talks with GM to buy the plant, neither of the parties have confirmed this. Apparently, the French PSA Group was also interested in purchasing the plant at one point. Meanwhile, GM's Gujarat plant has already been acquired by MG Motor India.

Source: LiveMint