General motors india, Automobile company

Chennai, March 13 The Hyundai Motor India Ltd with a view to have a second automobile plant in India is considering to acquire land and building and some assets of General Motors India's Talegaon plant in Maharashtra.According to Hyundai Motor India, a Term Sheet has been signed for the potential acquisition of identified assets of the plant like land and building, certain machinery and equipment situated at the General Motors India's plant in Talegaon.The Hyundai Motor India said the proposed acquisition is subject to the signing of the 'Definitive Asset Purchase Agreement' and fulfillment of conditions precedent and receipt of regulatory approvals from relevant Government Authorities and all the stakeholders related to the acquisition.The Indian subsidiary of the South Korea's Hyundai Motors has a big manufacturing facility in Irrungattukottai near here.The Hyundai Motor India has earlier announced its plans to get into electric vehicle manufacturing.Further another facility outside Tamil Nadu is a sort of derisking strategy and also being closer to other markets in the country.It should be noted Ford Motor Company had shuttered its Chennai plant operations sometime back.vj/ksk/Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

General Motors IndiaFOLLOW

General motors india, Latest News

Business :Hyundai India signs 'Term Sheet' with General Motors' to acquire Talegaon plant

Hyundai Motor India (HMIL) on Monday said it has signed a 'Term Sheet' for the potential acquisition of identified ... ...

International :Hyundai Motor considering buying GM India's Talegaon plant assets

Chennai, March 13 The Hyundai Motor India Ltd with a view to have a second automobile plant in ... ...