As part of its new product development and plant growth plans, General Motors India is making plans to make an investment of $500 million (Rs 2,250 crore) by 2012.

The owner of the Chevrolet brand will unveil six new vehicles, which comprise a pick-up van, multi-seater van, hatchback, notchback, SUV and multi-purpose vehicle.

The new vehicles would be rolled out in addition to LCVs, which would hit markets in the year 2012.

The majority of these products are manufactured by the GM-SAIC-Wuling JV, which is operational in China.

The products will run through the GM's Bangalore research and development centre in order to make them appropriate for Indian buyers.

The company, which is 50:50 JV between GM and Shanghai Automotive Industry Corp, has also given contracts valued at $500 million to component vendors that provide parts to its global facilities.

At present, around 80 vendors are supplying to its worldwide facilities.

General Motors, which has come forward with an IPO in the US market, has no plans to finance growth activities of subsidiaries including the India-based division.

Mr. Karl Slym, president, GM India, said, "Much of the proceeds will go into repaying debt. The Indian operations can be run with the money generated by itself. So we are reinvesting whatever we sell."

GM is also working on a novel edition of Spark, which would sport a smaller engine, and is projected to be rolled out by 2012.

Slym also said, "We see good opportunity for a small engine in India in the Spark. We sell the proposed engine in some of the overseas countries. We are working on a smaller version of the Spark. There will also be a new engine offering for the Beat which will come with a one-litre diesel engine."

Besides, GM would set up a novel brand for the CVs venture, which would be a derivative of the Chevrolet brand.