').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Hyundai Motor Considers Buying General Motors India's Talegaon Plant Assets
A Term Sheet has been signed for the potential acquisition of identified assets of the plant like land and building, certain machinery and equipment situated at the General Motors India's plant
Topics
Hyundai Motor | General Motors India | Land Acquisition
The Hyundai Motor India Ltd with a view to have a second automobile plant in India is considering to acquire land and building and some assets of General Motors India's Talegaon plant in Maharashtra.
According to Hyundai Motor India, a Term Sheet has been signed for the potential acquisition of identified assets of the plant like land and building, certain machinery and equipment situated at the General Motors India's plant in Talegaon.
The Hyundai Motor India said the proposed acquisition is subject to the signing of the 'Definitive Asset Purchase Agreement' and fulfillment of conditions precedent and receipt of regulatory approvals from relevant Government Authorities and all the stakeholders related to the acquisition.
The Indian subsidiary of the South Korea's Hyundai Motors has a big manufacturing facility in Irrungattukottai near here.
The Hyundai Motor India has earlier announced its plans to get into electric vehicle manufacturing.
Further another facility outside Tamil Nadu is a sort of derisking strategy and also being closer to other markets in the country.
It should be noted Ford Motor Company had shuttered its Chennai plant operations sometime back.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Mon, March 13 2023. 11:04 IST
RECENT NEWS
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more