US carmaker General Motors (GM) today said it would either launch or showcase an electric vehicle in the Indian market next year, but ruled out competing with the Tata Nano on price point.
GM India President and Managing Director Karl Slym said: "I would like to say that you will start to see opportunities for sale (electric vehicle) to you or demonstration (in India) next year."
He said this electric vehicle would be a "pure" GM car and not in collaboration with any other player.
Asked if GM plans to launch a car to directly compete with the Tata Nano, Slym told reporters on the sidelines of the Karnataka government-organised Global Investors' Meet here, "It's true that we are looking at (launching) cars in various different segments."
But he added, "I don't think it's fair to say we are trying to launch a Nano."
Slym said GM is trying to look at something which is not necessarily from the viewpoint of prices, but focused on the "value side of it", adding he does not rule out launching a car in a "lower segment" than its "Beat" model.
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He said GM plans to hire almost 500 additional professionals for its research, engineering and design centre here by the end of the current calendar year, taking the head count from nearly 1,600 to more than 2,000.
Slym said GM has awarded contracts worth $500 million to Indian suppliers for the company's operations overseas as of end-March this year.
He said GM India's powertrain facility would go onstream from November. Its Talegaon manufacturing plant is running on two shifts from April this year.
GM India has not planned any increase in the price of its vehicles but if commodity prices escalate, it would put pressure on the company, Slym added.