Vadodara: Employees at General Motors Halol plant are given one-week holiday. It is believed that the company has announced one-week holiday for cost cutting and also for a reason that there’s no inventory as of now. The new schedule is likely to be announced on Monday.

A subsidiary of China’s top carmaker SAIC Motor Corp plans to acquire certain General Motors manufacturing assets in India, a filing with the country’s competition watchdog showed. The assets, which could give the Chinese automaker a toehold in the Indian car market, will be acquired via an Indian subsidiary of SAIC that is yet to be incorporated, according to the filing with the Competition Commission of India. As part of a side deal, General Motors also plans to buy out SAIC’s 9.2 percent stake in SAIC General Motors Investment – a joint venture it formed with the Chinese automaker in 2009 to expand its presence in emerging markets like India, a separate filing showed. GM, in an emailed response to a Reuters query following the filing, said discussions with SAIC on the sale of Halol – its plant in Gujarat – were progressing well and that the two parties were working to secure necessary approvals.

GM had said in 2015 that it planned to stop production at one of its two plants in India by mid-2016 and consolidate operations at one location. The Detroit carmaker’s Halol plant can manufacture up to 110,000 vehicles a year. GM also runs a plant in Talegaon in Maharashtra that has a capacity of about 170,000 vehicles a year.