GMC to acquire former GM’s worldwide operations
Once General Motors completes its bankruptcy proceedings and gets on with its restructuring plan, it will acquire the erstwhile GM's worldwide operations, include GM India.
After restructuring, GM will be known as the General Motors Company, and apart from the domestic market, it will continue to support the former GM's operations outside the US. The new company will, supposedly, have a stronger balance sheet, will be able to operate at a profit and will focus on new product development, including the development of EVs and hybrids.
'The new GM will have a very positive impact on GM's operations in India. It will enable us to continue to take advantage of our company's global resources through the introduction of new products and the continued commitment to our expansion plans for India,' says Karl Slym, President and MD, General Motors India.
[Via: indiaautomotive]