General Motors (GM) is in advanced talks with JSW Energy to sell its Pune plant where JSW Energy is planning to make its electric car, code named JSW car.
With this the GM may completely exit India as it plans to sell its last remaining plant for around Rs 3,500 crore.
JSW Energy intends to foray into automobile manufacturing by producing an electric car at GM’s Pune car plant and sell it in the price range of Rs 12-15 lakh.
GM currently uses the factory at Talegaon in Pune, Maharashtra to produce some models of its Beat hatchback solely for exports. The factory is valued anywhere between Rs 3,000 crore and Rs 3,500 crore, which includes land cost, an engine assembly line and car assembly line.
The facility, which opened in 2008, is spread over 300 acre, including the car plant, with an annual capacity of 1,30,000 vehicles.