General Motors India to invest $300 million in 2 years

General Motors IndiaPassenger car manufacturer General Motors India ltd has drawn up strategies to invest US$ 300 million within the next 2 yrs, mentioned a firm official.

“We are investing United states dollar 300 million within the next 2 years for starting 6 new products,” GM India VicePresident (Marketing), P Balendran told PTI.

P Balendran mentioned the industry arithmetic was which a new car platform generally needed an investment of USD 50 mn.

The newest products, he mentioned, would consist ofa sedan, pick-ups, multi-utility vehicles,a compact car and van . He explained that the firm had tied up with a consortium of bank’s for financing the required investment.

Besides, he mentioned that GM India ltd was anticipating a growth of greater than 70 percent during the present calendar year.

“This yr, we’re hoping to sell more that 1 lakh units,” he said. In 2009, the firm had sold 69000 units.

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