GENERAL Motors (GM) India on Sunday said it had raised a Rs 1,000-crore loan from a consortium of Indian banks to part-fund a $250 million (nearly Rs 1,160 crore) investment for launching five vehicles from the stable of its Chinese partner, Shanghai Automotive Industry Corporation (SAIC), by 2012. “By the end of 2012, we plan to launch five vehicles from SAIC in India. Three of them will be light commercial vehicles (LCV) and two will be passenger vehicles,” GM India President and Managing Director Karl Slym told PTI.
