One of India’s largest carmakers is set to take on the entire Indian automobile scene as the Korean carmaker has recently signed a term sheet to acquire General Motors’ Talegaon Plant. However, this is not the first time a carmaker has made a move like this. Since GM announced its exit many carmakers have shown interest in buying the brand’s Talegoan manufacturing unit situated in Maharastra. These carmakers include MG, Tata, and Great Wall Motors (which despite all its efforts, never made it to India). With this, Hyundai is all set to acquire GM in all its form in the country.
- The proposed acquisition includes land, buildings, specific machinery, and equipment for manufacturing.
- With this acquisition, Hyundai Motors plans on improving the brand’s manufacturing ability in India.
- This might also help Hyundai to get an edge over its competitors in the Indian automobile industry.
- The Korean brand also plans on launching 5 new cars by the end of 2024. These include- Next-gen Verna, Next-gen Creta, Next-gen i20, and the Hyundai Casper.
- Hyundai also has plans to increase its import business with this acquisition.