Business Standard

Sunday, January 19, 2025 | 11:49 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

General Motors ends deal to sell India plant to China's Great Wall Motor

GM had twice extended the terms of the deal to close the sale as the two sides waited for a green light from the Indian government

General Motors, GM
Premium

When the June 30 deadline came and went, the Detroit automaker called off the sale and will instead explore other options, a spokesman said.

David Welch | Bloomberg
General Motors Co. has ended its attempt to sell a mothballed plant in India for about $300 million to China’s Great Wall Motor Co. after failing to get government approval to close the deal.

GM had twice extended the terms of the deal to close the sale as the two sides waited for a green light from the Indian government. When the June 30 deadline came and went, the Detroit automaker called off the sale and will instead explore other options, a spokesman said.

The collapse of the deal is the latest snag in GM’s exit from India. The automaker is also

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in