GM's Talegaon facility. Courtesy: GM India

As part of Chevrolet's global growth strategy to ensure long-term profitable growth in the markets where GM operates, the company has confirmed that it will make US $1 billion (INR 6,400 crore) 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 yesterday (July 29, 2015) to brief him on Chevrolet's plans.

Chevrolet announced on July 28 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.

"Chevrolet is committed to India for the long term," said Barra. "We are delivering on our promise and doubling our investment in India. This will allow us to provide our Indian customers the great vehicles they want and the world-class customer experience they deserve. It will also support the government's Make in India program."

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.

The majority of the new investment will support the strengthening of Chevrolet's Talegaon manufacturing base in the state of Maharashtra. It will enable the facility to localize, industrialize and optimize its footprint to accommodate additional products for the domestic and export markets.

"The new global vehicle family we just announced will have several different body styles designed to meet the expectations of the Indian consumer," said Jacoby.  "The vehicles will be manufactured and sold in India and feature striking styling that has never been seen here before. They will also be exported worldwide. With this investment, our aim is to double our market share in India by 2020."

There are no plans to export the vehicles to mature markets such as the United States.

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