Chevrolet to invest 6,400 crores in India: Plans to launch 10 new cars in five years Also Read - Fiat Chrysler To Invest USD 250M in India, Launch 3-Row SUV and New Jeep Compass

“Chevrolet is committed to India for the long term,” said Barra. “We are delivering on our promise and doubling our investment in India. This will allow us to provide our Indian customers the great vehicles they want and the world-class customer experience they deserve. It will also support the government’s Make in India program.” Also Read - Renault appoints Venkatram Mamillapalle as India head, Sumit Sawhney to take up global role

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The company claims that the new investment is likely to create approximately 12,000 new jobs for GM India and its suppliers. Besides increasing localisation, Chevrolet will also increase its dealer network to reach maximum buyers. The company will stop its Gujarat production unit in 2016, while the new investment will be used to strengthen Chevrolet's Talegaon manufacturing unit in Maharashtra.

“The new global vehicle family we just announced will have several different body styles designed to meet the expectations of the Indian consumer,” said Jacoby.  “The vehicles will be manufactured and sold in India and feature striking styling that has never been seen here before. They will also be exported worldwide. With this investment, our aim is to double our market share in India by 2020.”

GM India will also launch 10 new locally produced Chevrolet models within five years. Out of 10 new models, the Trailblazer SUV will be launched in October 2015 and the Spin MPV will hit the market in early 2017. Talegaon, which currently has a production capacity of 130,000 vehicles, will increase its base capacity to 220,000 vehicles by 2025.  It will also become a global export hub for GM, with more than 30 percent of its annual production planned for markets outside India.

“Consolidating our manufacturing in a single location in India will support the long-term sustainability of our business in a challenging emerging market,” said Saxena. “This is not a decision that we are making lightly and we are committed to treating those impacted respectfully,” said Saxena.