GM India to be acquired by New General Motors Co

General Motors India will be acquired by New General Motors Company. The decision is taken after the parent company General Motors has received the approval for its restructuring plan from the US court. The acquisition process will take place when the parent company steers itself out of bankruptcy. After closing of the transaction, the new GM will be known as General Motors Company. The new company will acquire GM's strongest operations. They include GM subsidiaries outside the United States, including its operations in India and rest of the Asia Pacific region, which will continue to operate without interruption, General Motors India (GMI) said in a statement today. However, the expansion and other plans for India will remain the same. GMI President and Managing Director Karl Slym said that the future plans for the Indian operations are on track and the company would go ahead with its proposed launch of a luxury sedan and a mini car within this year.