General Motors operations in India still on trackJune 3rd, 2009 - 1:24 pm ICT by ANI
Gurgaon (Haryana) June 3 (ANI): General Motors (GM) India would continue all its normal operations in the country, as it was not included in the court reinvention process of GM’s United State’s operations.
This was stated by Karl Slym, President and Managing Director of General Motors India at the company’s corporate office here on Tuesday.
He said that GM India operations are not included in the US filing for Chapter 11 with maintaining their business unharmed in the country.
“Our business remains here on track as it was before and in fact this announcement from the United State has provided a lot of clarity to people that we are concerned of what might happen in India with the developments in the United States. But now everyone can see clearly that the activities are purely based in the United,” he added.
He further said that the company would go ahead with the launch of its luxury sedan Chevrolet Cruze, and the LPG version of Chevrolet Spark besides introducing a ‘mini car’ in the Indian market by the end of this year.
General Motors Corp filed for bankruptcy on Monday as the Obama administration took the first steps to try to revive a failed icon of American industry by extending unprecedented federal funding.
The filing of bankruptcy was the third largest in US history and the largest ever in US manufacturing.
GM said in a legal filing on Monday that the transaction to create the reorganized company would have to be quick to keep the automaker from losing its best chance to restructure.
As part of its historic bankruptcy, the 100-year-old US automaker plans to close or idle 14 U.S. plants and warehouse operations, shedding up to 20,000 workers there. (ANI)
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