To: arun gera who wrote (66683 ) 8/3/2006 1:53:23 PM From: shades Respond to of 110194 Indian Princess killing America GM To Invest Over $300M In 2nd India Mfg Plant (Soni about to get a pay raise in India because indian man is such a push over - hehe - I predict the marriage I saw in that show 30 days will end - if not - soni and her husband will lead lives of quiet desperation - a great western philosopher said most men do - hehe - He wants her to do one thing - she wants to do another - I predict the man loses - why cant the rising tide lift all boats? - The marketing department has convinced SONI that new diamonds and new designer 200 dollar jeans is better than family and home I guess - hehe) NEW DELHI (Dow Jones)--General Motors Corp. (GM) will invest more than $300 million to build its second manufacturing plant in India as the U.S.-based automaker seeks to boost its presence in one of the world's fastest growing automobile markets. The factory will be built in the western state of Maharashtra and initially produce 140,000 vehicles a year, said a statement by General Motors' Indian subsidiary. More than 1,000 people will start at the plant, the statement said, adding that the factory will more than double GM's manufacturing capacity in India to over 220,000 vehicles a year. An agreement was signed by General Motors India Pvt. Ltd. President and Managing Director Rajeev Chaba and the Maharashtra government's Industries Secretary V.K. Jairath for building the new factory. "Our new facility will enable us to continue the rapid build-up of our presence in one of the fastest growing and potentially largest markets in the world," said Nick Reilly, GM's Asia-Pacific president. "We cannot remain a global industry leader without a strong presence in high-growth vehicle markets around the world like India," he said. Earlier in the day, Rajiv Jalota, chief executive officer at Maharashtra Industrial Development Corp. said 300 acres of land has been allotted to GM at Talegaon city in the state. The new factory will complement GM's current unit in the western state of Gujarat, where it currently produces four models of the Chevrolet range. It includes the sports-utility-vehicle model, Tavera, the Optra and Aveo sedans, and the hatchback model, Optra SRV. The capacity at the Gujarat factory is being expanded to 85,000 vehicles a year by December to meet the growing sales of GM cars in the country. In 2005, GM sold 30,837 cars in India, Asia's fourth-biggest automobile market. This year, the company aims to sell 50,000 cars. GM also has technical center in India's technology hub of Bangalore, where it carries out engineering, research and development work. The construction of the new factory will begin at the end of August and is expected to be completed within 20 months, said GM. The company aims to begin production at the factory by September 2008. GM plans to initially manufacture a mini-car at the new facility for the Indian market. The company didn't give details of the new hatchback model. Analysts said the entry of GM, the world's biggest automaker, into the hatchback segment is likely to further intensify competition in India's automobile market. Currently, market leader Maruti Udyog Ltd. (532500.BY), Hyundai Motor India Ltd. and Tata Motors Ltd. (500570.BY) dominate the local hatchback market. Hatchbacks, or cars with engine capacities ranging from 0.8-liters to 1.6-liters, comprise more than 75% of the more than one million cars sold in India each year as they are cheaper and more fuel-efficient than sedans. GM India's Chaba said the company chose Maharashtra as the site of the new manufacturing facility because of advantages over labor skills, costs, infrastructure and geographic location. -By Santanu Choudhury, Dow Jones Newswires; +91-11-23074020; santanu.choudhury@dowjones.com (END) Dow Jones Newswires