GM forms 50-50 tie-up with SAIC

U.S.-based General Motors Corp. in collaboration with the Shanghai Automobile Industrial Corp. (SAIC) is all set to penetrate the light commercial vehicle (LCV) segment in India. The LCVs will be manufactured in Halol, Panchmahal,Gujarat, and will be launched by the end of 2011. GM India President and Chief Executive Officer Karl Slym said that “GM and SAIC will have an equal number of representatives on the board from both companies. This is a 50:50 JV and therefore it will be equally represented.” (April 22, 2010)