').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
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more
The Role Of Machine Learning In Fraud Detection
Author: Gerardine Lucero  ... Read more
Principles Of Islamic Banking And Finance
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more
The Role Of Central Banks In Global Economy
The role of central banks in global economy is a stimulating topic that requires profound understanding. Commonly, centr... Read more
History Of Banking Evolution In The 21st Century
Throughout time, the banking sector has assumed a central role in the smooth functioning of economies, generating growth... Read more