Hyundai Acquires GM’s Plant in Maharashtra

Hyundai advances expansion with acquisition of assets at General Motors’ Talegaon Plant in Maharashtra, a pivotal move in its growth strategy

This move is a crucial milestone for HMIL, aiming to elevate its total production capacity to an impressive 10,00,000 annual units. The commencement of production at the Talegaon Plant is anticipated in 2025.

Strategic Agreement and Commitment

The Asset Purchase Agreement (APA) encompasses the assignment of land and…
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Source: https://www.motoroids.com/news/hyundai-acquires-gms-plant-in-maharashtra/

Talegaon plant workers likely to drop legal options, Hyundai close to GM plant acquisition

The Workers union has softened its stand to compulsorily hire the 900 workers with the Maharashtra government stepping in to offer compensation of Rs 25 lakh to each impacted worker.

Amid the Bombay High Court’s decision to dismiss writ petitions filed by the General Motors’ Employees Union against the closure application of the Talegaon plant, Deputy CM of Maharashtra Devendra Fadnavis last week shared on social…
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Source: https://www.autocarpro.in/news/talegaon-plant-workers-likely-to-drop-legal-options-hyundai-close-to-gm-plant-acquisition-118710?amp=1

Saurabh Vatsa to join Nissan India as Deputy MD, Auto News, ET Auto

Prior to his tenure at Citroen, Vatsa held positions at companies including General Motors and Daewoo.New Delhi: In a significant development, Saurabh Vatsa, former Brand Head of Citroen India, is set to join Nissan Motor India Private Limited as Deputy Managing Director, sources confirm.In response to a query addressed to Nissan Motor India, the company declined to provide a comment.The announcement follows Vatsa’s departure from Citroen India in…
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Source: https://auto.economictimes.indiatimes.com/amp/news/passenger-vehicle/saurabh-vatsa-to-join-nissan-india-as-deputy-md/106764585

Price increase for updated 2024 Chevrolet Silverado sees rival to Ram 1500 and Ford F-150 up by thousands – Car News

The entry cost to get into a new Chevrolet Silverado is now a little higher, as local distributor General Motors Specialty Vehicles (GMSV) has adjusted pricing along with adding some new features.The 2024 Chevrolet Silverado range opener, the 1500 LTZ Premium, now costs $130,500 before on-road costs, or $2500 more than before. It seems a significant increase, but in context at this price point it’s a rise of less than two per cent, and it comes with a new feature that should appeal to…
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Source: https://www.carsguide.com.au/car-news/price-increase-for-updated-2024-chevrolet-silverado-sees-rival-to-ram-1500-and-ford-f-150

Great News for Young EV Stocks Such as Rivian

One of the biggest questions facing automotive industry investors is whether legacy would matter to consumers when the transition to electric vehicles (EVs) took place. For instance, Ford Motor and General Motors have long dominated the full-size gasoline-powered truck segment — and made handsome profits from it. But would that history of dominance translate to electric trucks?If recent global EV sales are any indication, the game might be about to change and that’s good news for young EV…
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Source: https://finance.yahoo.com/news/great-news-young-ev-stocks-144500131.html