Great Wall Motors to Reportedly Invest INR 7,000 Crore in India
China’s one of the biggest carmakers, the Great Wall Motors is expected to enter the Indian market by the end of the year 2020 or in early 2021. The company is looking forward to investing a huge amount worth INR 7,000 crore in order to set up a massive manufacturing plant at Gujarat. A similar step was taken by another major company of China, the Shanghai Automotive Industries Corporation (SAIC).
One of the government officials said in an interview that they are interested in setting up a plant in Gujarat so that they can produce electric vehicles as well as conventional fuel vehicles. “If all goes well, the plant is likely to be set up close to the auto manufacturing zone in Sanand. Officials of the company met top state government officials last week, to discuss short and long term goals,” the official said.
The state government of Gujarat has already designated the land for the Great Wall Motors’ manufacturing plant at the Chinese park in the Sanand auto manufacturing zone about which the government official notified – “In the second round of advanced talks last week, Great Wall Motors unveiled plans to invest close to $1 billion (approximately Rs 7,000cr) in India. We have shared our policy and incentive details along with details of available land”.
The upcoming brand has notified that the India unit will be under the name of Haval India whose headquarters will be in Gurgaon in the NCR region. The company already has a plant in countries like Bulgaria, Ecuador, Ethiopia, Indonesia, Iran, Nigeria, Russia, Senegal, Ukraine, and Vietnam whereas the said plant will the first one in India.
The Great Wall Motors is also interested in participating at the Auto expo 2020 for which it has made an investment worth 1.6 million dollars in February last year in order to set up the local office. The company will be getting its components from the Chinese MSMEs for its vehicles.