Great Wall Motors (GWM) and General Motors (GM) announced an agreement for the sale of GM India’s Talegaon manufacturing facility. Under a binding term sheet signed recently, the GM India legal entity, which includes the Talegaon facility, will be transferred to GWM. Great Wall Motors will officially debut its Haval brand and the GWM EV at the 2020 Auto Expo. The brand will also reveal its Indian market plan at the biennial event.
Meanwhile, General Motors India will provide a separation package and transition support for impacted employees, as well as an orderly transition for partners. The transaction is expected to close in the second half of 2020. Chevrolet will continue to honor all warranties and provide aftersales support, including ongoing service and parts requirements for existing customers in India.
Speaking on the occasion, Liu Xiangshang, Vice President, GWM Global Strategy, said “The Indian market has great potential, rapid economic growth and a good investment environment. Entering the Indian market is an important step for Great Wall Motors’ global strategy. It is also an important measure to respond positively to the Indian government’s national strategy of vigorously advocating Make In India, Digital India and a ‘strong focus on clean energy in India’ and building a new India vision.”
