Mumbai: US automaker General Motors has lined up an investment of Rs 6,400 crore and plans to roll out 10 new models from its plant in Maharashtra, state's Chief Minister Devendra Fadnavis said Thursday.
"We expect production will commence in two years," the minister told PTI at Vidhan Bhawan.
The models will be aimed at domestic as well as export markets, Fadnavis said, after meeting top officials of the company in Vidhan Bhawan here this afternoon.
The General Motors delegation comprised Chief Executive Mary Barra. Senior officials of MIDC, including CEO Bhushan Gagrani and Joint CEO Anand Rayate were also present.
Another US-based automaker Chrysler has assured investment of Rs 2,000 crore in the state, Fadnavis said.
General Motors is investing USD 5 billion globally of which, USD 1 billion will be in India, he added.
The GM factory in Maharashtra is expected to produce 10 new Chevrolet models, the chief minister said.
The US company yesterday announced an investment of USD 1 billion (Rs 6,400 crore) to change its fortunes in India.
The carmaker, which entered India in 1996, has been struggling for the past two decades and has mere 1.8 per market share.
General Motors also said it will cease production at its Gujarat plant to consolidate manufacturing operations in Maharashtra.