MG Motor completes takeover of Halol plant from GM

Key highlights:

• MG Motor India completed acquisition of Halol plant in Gujarat from General Motors
• MG Motor India, a wholly-owned subsidiary of China's largest automaker SAIC Motor Corp
• The company acquired the plant on an asset sale basis from General Motors India

British automotive marque Morris Garages has moved a step closer towards establishing full scale operations in the country, with MG Motor India completing acquisition of Halol plant in Gujarat from General Motors.

MG Motor India, a wholly-owned subsidiary of China's largest automaker SAIC Motor Corp that owns the brand, aims to launch its first product in 2019 and follow it up with another a year later.

While the SUV segment remains an important segment, the company is yet to finalise products for the Indian market.

"We acquired the Halol plant last week. An agreement has been inked with the Gujarat government and the land transfer and handover have also been completed," MG Motor India President and Managing Director Rajeev Chaba told PTI.

The company acquired the plant on an asset sale basis from General Motors India and therefore, it is free to hire its own fresh workforce at the plant, he added.

The company, part of SAIC, will focus mainly on its MG brand in India. SAIC sells over 6.5 million vehicles annually around the world.

SAIC Motor enters Indian automobile market with plans to set up manufacturing facility