 "GM India to handover Halol assets to China's SAIC on May 1")
On May 1, US-based car maker General Motors’ Indian subsidiary would sell its Halol (Gujarat) unit’s assets to China’s Shanghai Automotive Industry Corp (SAIC) for an undisclosed sum but sans the 625 workers there.
Multiple sources confirmed that GM India and SAIC had entered into such an understanding. The Chinese buyer is not ready to absorb the current set of workers. GM India formally announced this week that it would cease production from April 28. It is a part of its plan to consolidate manufacturing at its Talegaon (Maharashtra) factory.
A GM India spokesperson in an email said, “We continue
