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Home » IANS » GWM reaffirms phased investment of $1 billion in India

GWM reaffirms phased investment of $1 billion in India

By IANS
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New Delhi, June 16 (IANS) Global SUV manufacturer GWM said on Tuesday that it has entered into an MoU with the Maharashtra government to set up an automotive manufacturing facility in Talegaon.

The company also reaffirmed its commitment to invest $1 billion into the country in a phased manner. The said investment is expected to generate over 3,000 jobs.

“This would be a highly automated plant in Talegaon with advanced robotics technology integrated in many of the production processes,” said Parker Shi, Managing Director of the Indian subsidiary of GWM.

“Overall, we are committed to $1 billion of investment in India in a phased manner, which is directed towards manufacturing world class intelligent and premium products, R&D centre, building supply chain and providing jobs to over 3,000 people in a phased manner,” Shi said.

Strategically located in the Talegaon Industrial Park, Maharashtra, it covers an area of around 300 acres and is close to the expressway.

It is about 45 km from Pune and about 100 km from the Mumbai Port.

In January this year, GWM had signed an agreement to acquire this plant from GM. The factory has facilities like logistics distribution center, training center, project management building, administrative office building and public facilities.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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