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July 30, 2015

Chevrolet Announces $1 Billion Investment in India

Chevrolet India

Chevrolet India


Photo: GM CEO Mary Barra unveils Chevrolet Trailblazer SUV for India.

NEW DELHI, JULY 30, 2015 - As part of Chevrolet’s global growth strategy to ensure long-term profitable growth in the markets where it operates, the company today confirmed that it will make US $1 billion (INR 6,400 crores) in new investment in India. The announcement was made in Delhi during GM CEO Mary Barra’s second visit to the country in 12 months.

Barra, GM Executive Vice President and GM International President, Stefan Jacoby, and GM India President and Managing Director, Arvind Saxena, met with India’s Prime Minister Narendra Modi today to brief him on Chevrolet’s plans.

Chevrolet announced yesterday that it is making a US $5 billion investment to strengthen its business in global growth markets through the development of an all-new vehicle family that will meet the rapidly changing demands of customers in Brazil, China, Mexico and India. The company has invested US $1 billion in India since 1996.

The new investment is expected to create approximately 12,000 new jobs for GM India and its suppliers. Besides growing the use of the domestic supply base to support increased product localization, Chevrolet will also grow its domestic dealer network to support the greater availability of vehicles and service for consumers nationwide.

GM India is expected to roll out 10 new locally produced Chevrolet models within the space of five years. They include the Trailblazer SUV, which will go on sale in October of this year, and the Spin MPV, which will reach the market in early 2017.

Founded in 1911 in Detroit, Chevrolet is now one of the world’s largest car brands, doing business in more than 115 countries and selling around 4.8 million cars and trucks a year. The Chevrolet portfolio in India includes the Chevrolet Beat, Captiva, Cruze, Enjoy, Sail, Sail Hatchback, Spark and Tavera.

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Edited & Posted by the Editor | 1:13 PM | Link to this Post

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