GM India’s Talegaon plant – Hyundai Motor India inked an asset purchase agreement (APA) on Wednesday for the acquisition and assignment of selected assets at General Motors India’s Talegaon facility in Maharashtra. According to a business release, the transaction comprises the acquisition and assignment of land, buildings, and some machinery and manufacturing equipment at General Motors’ Talegaon plant.
The acquisition of General Motors’ Talegaon facility is subject to several conditions and regulatory approvals from relevant government authorities and stakeholders, according to the announcement. The arrangement also aims to increase annual manufacturing capacity at the Talegaon factory, which currently has an annual production capacity of 1,30,000 units.
“Since HMIL already increased its production capacity from 750,000 to 820,000 units in the first half of this year,” the announcement stated, “the capacity augmentation of the GMI plant will lay the foundation for HMIL to produce around 1 million units per year.”
Unsoo Kim, MD and CEO of Hyundai Motor India, stated that manufacturing operations at the site will commence in 2025. “As part of our commitment to ‘Atmanirbhar Bharat’ (Self-Reliant India), we plan to establish an advanced manufacturing center for Made-in-India automobiles in Talegaon, Maharashtra.” “We plan to start manufacturing operations in Talegaon, Maharashtra, in 2025,” Kim stated.
To attain these goals, Hyundai Motor India intends to make phased investments at the Talegaon factory to upgrade existing infrastructure and manufacturing equipment.
GM India’s Talegaon plant
Furthermore, the automaker will reconsider its intentions to introduce new electric vehicle (EV) models into the Indian market. These EVs will be built at the company’s Sriperumbudur factory.
Hyundai Motor is now ranked second overall in India among all vehicle brands, with the second-largest market share. Last year, the company sold 552,511 automobiles in India, accounting for 14.5% of the market and placing second overall among automobile companies in India. As of last month, HMIL had sold 346,711 vehicles this year, keeping its second-largest market share in India at 14.6%.
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