A file photo of Sanjeev Gupta.The purchase would bring Australia’s now defunct car manufacturing industry back to life. Photo: ReutersMelbourne: 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. GFG Alliance wants to use technology developed by its partner, Gordon Murray Design, to build the electric cars, Koutsantonis said. Australia’s near 100-year automotive industry came to end in October after GM shut its plant to move manufacturing to cheaper locations. Australian Prime Minister Malcolm Turnbull and other lawmakers have met with Gupta, who recently rescued Australian steel maker Arrium’s Whyalla plant and outlined ambitious plans to develop large scale solar and battery projects to help power the plant in South Australia.

Source: Mint January 22, 2018 06:45 UTC