By PTI
Mumbai: General Motors will invest $200 million in a new engine facility to be set up in Talegaon in Maharashtra.
The company already has a vehicle manufacturing facility there in which it has invested $300 million.
The engine plant will have an annual capacity of 1.6 lakh engines which could be expanded to three lakh engines per annum, the company said. The engine and car manufacturing plant will employ 1,400 people.
“We cannot remain a global industry leader without a strong presence in the high-growth market of India,” General Motors (India) president and managing director, Karl Slym, said in a statement.
“This will enable us to capture more opportunities in one of the fastest-growing vehicle markets in the world,” he added.
The engine facility is expected to be completed by the first quarter of 2010.