SAIC Motor Corporation is planning to buy the Gujarat Factory of General Motors Company (NYSE:GM). SAIC is conducting a due-diligence of the Halol factory that GM will vacate by July as it focusses on operations through its plant at Talegaon in Maharashtra. "The company is in advanced stages of negotiations with GM on the matter," a top industry official told TOI.

The two companies have also kept top officials of the Gujarat government in the loop as they look to strike a deal. GM is trying to ensure that fiscal incentives promised to it by the Gujarat government are passed on to the new buyer, which will boost chances of a potential deal. GM India said, "We are examining a number of options in relation to the Halol factory.

We have nothing further to announce at this time."