GWM inks MoU with Maharashtra Government to set up production plant
Author : Saipriya Iyer | Published Date : 2020-06-18
Great Wall Motor (GWM), a Chinese automobile manufacturer, has reportedly signed an MoU (memorandum of understanding) with the government of Maharashtra. This MoU has been signed by the company to set up a manufacturing facility in the state.
The manufacturing plant was acquired by GWM from General Motors (GM). GWM, which is one of the largest SUV (sports-utility vehicles) sellers in China, was planning to invest around $250 to $300 million to obtain this plant, which will help the Chinese automaker boost the sales and combat the declining sales rate in China.
Sources familiar with the matter have stated that the commencement of this production plant will require an investment of $1 billion and provide job opportunities to over 3,000 people.
According to Parker Shi, managing director of GWM’s Indian subsidiary, the deal will lead to the installation of a highly automated plant with advanced robotics technology deployed in several production processes in Talegaon. The company will make a $1 billion investment in India for this project in a phased manner. It will also focus on a considerable production of world-class intelligent & premium products, research and development center, developing supply chain, as well as offering employment opportunities to nearly 3,000 people.
The Chinese automaker had inked an agreement to obtain the manufacturing plant from General Motors (GM) in January 2020. This plant has various facilities such as a training center, public facilities center, administrative office building, project management building, and logistics distribution center.
The company has been emphasizing on developing various projects in India to accelerate and reinforce its India’s Electrification Strategy. For instance, in an automotive show, Auto Expo, which was held in February 2020, the company had revealed its plan to invest in the research & development and manufacturing of batteries in India.
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Saipriya Iyer presently works as a content developer for fractovia.org. Having dabbled with the domain of content creation for nearly half a decade, she now boasts of an enviable portfolio, holding substantial experience in penning down pieces related to technology, finance, and a wide spectrum of other industry verticals. A qualified computer engineering graduate from the University of Pune, Saipriya can often be found leveraging her knowledge of software technology and electronics in her write-ups. She can be contacted at- [email protected] | https://twitter.com/saipriya_i
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