Great Wall Motors car company goes on gas to invest in India

Great Wall Motors car company goes on gas to invest in India

Following SAIC's commitment of 5,000 crore in India, Great Wall Motors has started pumping over $ 1 billion.

China's largest utility vehicle maker, Great Wall Motors, is expected to invest over $ 1 billion in India, which is expected to become the world's third largest market in the next three to five years. This is nearing the path of the largest SAIC automaker that has commissioned 5,000 crossings in India.

Great Wall Motors has approved a unit in India, under Haval India, which will be based in Gurgaon, in the national capital region, and the team is set up to define the plan.

Great Wall approved a $ 1.6 million investment in February to set up the local office, which may be called India Haval Auto, India Haval or India Haval Auto Sales. The final name is subject to the approval of local authorities, said a news report.

The commitment of Chinese manufacturers comes at a time when their home country, the largest auto market in the world, has shrunk for the first time in decades. Despite a slowdown in the Indian market, they see Asia's third largest economy leading globally.

Several well-known people said that a senior executive contingent from the Great Wall's headquarters is currently in India looking for a manufacturing location. Andhra Pradesh, Tamil Nadu and Gujarat are potential sites for the plant, which is expected to pull its first SUV by the fourth quarter of 2022.