1 June : General Motors filed for bankruptcy on Monday, forcing the 100-year-old automaker, once seen as a symbol of American economic might and dynamism, into a new and uncertain era of government ownership.The bankruptcy filing is the third-largest in U.S. history and the largest ever in U.S. manufacturing.There will be a complete restructuring within three months that will give U.S taxpayers a 60 percent stake for a 50 billion dollar aid.
General Motors India, the Indian subsidiary of the bankrupt US car major on Monday said its operations in the country will remain unaffected and will go ahead with its planned launch of two more cars in 2009.
"GM India operations are not included in the US filing for Chapter 11. Consequently, all GM India dealers, warranty and customer support services will remain unaffected and continue to function as normal," General Motors India said in a statement.
The company said it would go ahead with the launch of its luxury sedan Chevrolet Cruze, besides introducing a "mini car" in the Indian market by the end of this year