China’s Great Wall Motors Plans To Invest $1 Billion In India
Great Wall Motors Co. said it would invest around $1 billion in India as part of its plans to expand in one of the world’s largest markets for automobiles.
That comes weeks after the Chinese automaker agreed to buy General Motors Co.’s plant in Talegaon, near Pune in Maharashtra. The company aims to boost the plant’s manufacturing capacity—that can make 137,000 vehicles per annum—expand its vendor network and research and development centre.
The company, which will launch its first product in India next year, is targeting the segment for sport utility vehicles, according to Hardeep Singh Brar, director of marketing and sales at Great Wall Motors. “We’re confident of the products we are bringing to the market and having SUV leadership in China gives us the confidence to drive and crack the Indian market,” he told BloombergQuint in an interview on the sidelines of the Auto Expo in Delhi.
Great Wall Motors’ Indian foray comes after that of Chinese peer SAIC Motor Corp, whose MG Motors brand has sold more than 16,000 vehicles in the country over the past year.
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