General Motors (GM), the world’s largest automobile maker will invest $ 200 million in Talegaon near Pune, Maharashtra, to set up a powertrain (engine, gearbox and transmission) project. The powertrain facility, which will have an annual production capacity of 160,000 units, is expected to begin operations in the first quarter of 2010. This investment in Talegaon is in addition to the $ 300 million the auto maker has already invested for cars. “GM’s total investment in the country will go up to $ 1 billion. This shows our confidence in emerging markets like India,” said Karl Slym, Head, GM India, after signing a memorandum of understanding with the state government. “We cannot remain a global industry leader without a strong presence in India,” Slym said. The facility will provide jobs to about 1,400 people, said Aziz Khan, industry secretary, Maharashtra, while signing an MoU with the auto maker.
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