Chinese largest SUV maker, Great Wall Motors is ready to enter the Indian auto market. The company had showcased multiple products at the 2020 Auto Expo. GWM is currently waiting for FDI (Foreign Direct Investment) approval to commence India operations at the Talegaon facility in Pune.
For people not in the know, Great Wall Motors had acquired GM India’s Talegaon based production facility for 950 crore. Due to rising anti-China sentiments, Indian Government is closely watching the FDI coming from China. The company has promised to invest $1 billion in India.
GWM has approached the Department for Promotion of Industry and Internal Trade (DPIIT) and the Competition Commission of India (CCI) for the approval. The company plans to launch its vehicles in India next year. The automobile sector gets automatic approval in India; however, any FDI from China or countries sharing borders with India needs government clearance.
Not just Great Wall Motors, more than 40 Chinese proposals are awaiting security clearance. Changan, Chery and Haima are other Chinese automakers planning to enter India and awaiting government approval. The report claims that Great Wall Motors is aiming to launch its first product in June 2021. However, the launch could be further delayed to 2022. The company plans to launch 4 new SUVs under the Haval nameplate in India. Adding to it, GWM is also considering entering in the sub-10 lakh space to challenge Hyundai and Maruti Suzuki.
