Billionaire Sanjeev Gupta looks to make electric cars in Australia

GFG Alliance wants to use technology developed by its partner, Gordon Murray Design, to build the electric cars

British industrialist Sanjeev Gupta is set to bid for industrial assets at General Motors Co's former Holden manufacturing site in South Australia, according to the state's treasurer, aiming to use the equipment to build electric vehicles.

If successful, the purchase would bring Australia's now defunct car manufacturing industry back to life, and add to a string of ambitious investments by Gupta, executive chairman of GFG Alliance, that include plans to use solar energy to power steel-making operations.

"Based on discussions I have had with the GFG Alliance I understand that, should they be the successful bidder, they intend to develop the site