General Motors CEO Mary Barra returned from a three-day visit to India on Thursday where she met with Indian Prime Minister Narendra Modi and other key stakeholders and businesspersons in the country.
“India represents a great opportunity for Chevrolet,” Barra said in a statement. “With a relatively small vehicle population and rapidly growing, young middle class, India is expected to become one of the world’s three largest markets by 2020.”
GM has invested about $1 billion in India to date. Its two Talegaon and Halol facilities in the country have an annual combined output 280,000 vehicles per year, while the GM Technical Center India is carrying out engineering projects for both local and global markets.
Barra was accompanied by several members of the GM board including Tim Solso, GM international president Stefan Jacoby, GM CFO Chuck Stevens and GM India president Arvid Saxena. The group visited the Talegaon manufacturing facility in Pune, where they celebrated the production of the new Chevrolet Beat, the first vehicle for export from India. Barra also met with several of GM India’s top suppliers and discussed opportunities for more global output and improved partnerships with GM.
GM says it is “looking to localize its supply base and make greater use of products manufactured in India,” going forward.
“GM is working to better understand the Indian market so we can give Indian customers what they deserve – safe, high-quality Chevrolet vehicles with exceptional designs that exceed expectations.”