| Terence B. Johnsson (right), general director of GM Asia Pacific with GM India chief Aditya Vij in New Delhi on Monday. Picture by Ramakant Kushwaha
New Delhi, July 7: General Motor India today expanded its product portfolio by launching the 1.8-litre Optra in the premium segment with a sticker price ranging between Rs 8-10 lakh.
With the launch of the Optra under the Chevrolet brandname, the Indian unit of the world’s largest automaker — General Motors Corp — began the process of introduction of Daewoo Motor’s products as part of its global strategy.
The Optra is available in three variants — Optra, Optra LS and Optra LT. While the base model has been priced at Rs 7.89 lakh, the other two models have been set at a sticker price of Rs 8.49 lakh and Rs 9.69 lakh.
“The Optra is from a new platform designed by GM Dat,” GM India chief Aditya Vij said.
The 16-valve Optra with D-Tec and DOHC engine also sports power windows and steering, central locking, jewel effect headlights and a hi-fi music system.
“We expect to retail 10,000-12,000 units of the Optra yearly,” Vij said. “The localisation content would go up over a period of time from the current level of 25 per cent.”
Earlier, General Motors Corp bought the viable assets of troubled South Korean automaker Daewoo Motors when the Korean major crumbled last June under an interest-bearing debt burden estimated at $ 7.45 billion.
Daewoo Motor’s Indian unit was left out of the deal and it collapsed when its local credit pressed for repayment. The Indian arm of Daewoo Motors, which used to make and market Matiz, a success in the hatchback segment, and mid-size vehicles Cielo and Nexia, was forced to stop production in April last year.