Hyundai Motors has signed a deadline for possible acquisition of Talegaon plant assets from General Motors
According to Hyundai Motors, the term sheet includes the proposed purchase of land and buildings, as well as machinery and equipment used for production at the General Motors plant.
Hyundai Motors India Limited (HMIL) has signed a deadline for potential acquisition of identified assets at General Motors’ Talegaon plant in Maharashtra’s Pune district.
According to Hyundai Motors, the term sheet includes the proposed purchase of land and buildings, as well as machinery and equipment used for production at the General Motors plant.
“The proposed acquisition is subject to the execution of a definitive asset purchase agreement and the satisfaction of precedent and regulatory approvals. relevant government authorities and all stakeholders involved in the procurement,” Hyundai said in a press release.
Hyundai Motor India Limited is a wholly owned subsidiary of Hyundai Motor Company (HMC), currently has 12 car models in the Grand i10 Nios, i20, i20 NLine, Aura, Venue, Venue N Line segments. HMIL is a fully integrated state-of-the-art manufacturing facility near Chennai.
Currently, HMIL is exported to about 85 countries in Africa
The Middle East, Latin America, Australia and the Asia-Pacific region and form an important part of HMC’s global export hub.
First post: March 13, 2023, 10:17 a.m. STI
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