GM No to slowdown in investments in India
According to The Financial Express, General Motors had no plans to slow down on its investments in India, inspite of slowdown in car sales. Mr Karl Slym President & MD of India operations said that "We have so far invested USD 1 billion in India and there is no question of putting a cap on it." He said that "The global meltdown has impacted the car market in India.
Inspite of the slowdown, the Company has witnessed a growth of 10% last year and was hopeful of good growth rate this year as well. According to MD of GM india, the company plans to release 2 more new models this year. He Also said that GM's second plant at Talegoan in Maharashtra had commenced production, while its engine making plant at the same site would be completed by end of 2010 & with the second plant in operation, the problem of capacity constraint had been overcome.
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