GM will spend $1 billion in India to double market its share by 2020

Employees are seen working through the doors of Chevrolet Beat cars on an assembly line at the General Motors plant in Talegaon, about 118 km (73 miles) from Mumbai September 3, 2012. REUTERS/Danish SiddiquiThomson ReutersEmployees are seen working through the doors of Chevrolet Beat cars on an assembly line at the General Motors plant in Talegaon

General Motors Co will invest $US1 billion in the next few years to turn operations in India into a new global auto manufacturing and export hub aimed at boosting sales in fast-growing emerging markets, top executives said on Wednesday.

The investment is part of GM’s plan to invest $US5 billion over several years to develop a global family of Chevrolet vehicles with Shanghai Automotive Industry Corp (SAIC), the state-owned Chinese automaker that is GM’s primary partner in China.

GM Chief Executive Officer Mary Barra said at a briefing in New Delhi that the investment in India was expected to create 12,000 jobs at the company and its suppliers in Asia’s third-largest economy.

GM will also launch 10 new domestically manufactured vehicles in India over the next five years in a push to double its market share in the country by 2020, Stefan Jacoby, GM’s chief of international operations, told a news conference.

GM sold 56,700 vehicles in India in 2014 and had a market share of 1.8 per cent.

(Reporting by Aditi Shah; Editing by Kenneth Maxwell)

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