Shanghai: General Motors said on Friday it will form a manufacturing joint venture with SAIC Motor Corp in India in the first quarter of next year.
Small cars and mini commercial vehicles currently made at GM and SAIC's China ventures will be produced and sold in India, it said in a company statement.
GM and SAIC have also reached an agreement to transfer 1 percent of GM's stake in their 50-50 Shanghai car venture to SAIC, it added.
"Both companies felt this was the proper time to deepen cooperation beyond China's borders," said Nick Reilly, head of GM's international operations.
Bureau Report
First Published: Friday, December 04, 2009, 15:06