We reported earlier that Chinese largest SUV maker, Great Wall Motors is ready to enter the Indian market. GWM is currently waiting for FDI (Foreign Direct Investment) approval from the Government to commence India operations at the Talegaon facility in Pune. The company had acquired GM India’s Talegaon plant for 950 crores.
Thanks to the descalation across the India-China border, India is reportedly looking to allow 45 Chinese investments including Great Wall Motors and SAIC Motor Corporation in India. The report claims that these investments are primarily focused on the manufacturing sector and are not considered a major threat to nation security and integrity.
This will allow SAIC Motor Corpo to take control of GM’s Halol plant to set up operations for MG Motors in India. The company has committed to making investments worth at least Rs 2,000 crore for the manufacturing facility at Halol. Adding to it, around 5 global vendors of the company are also expected to set up their manufacturing base the same site. This will create employment for around 1,000 people.
GWM had signed a MoU in January 2020 with the Maharashtra Government in presence of Chief Minister of Maharashtra, Shri Uddhav Thackeray and Mr Sun Weidong, Chinese Ambassador to India. The company announced to invest $1 billion(about Rs 7600 crores) in the Talegaon plant in a phased manner. The facility will be equipped with the latest technology. This will create employment for over 3,000 people in a phased manner. Strategically located in Talegaon Industrial Park, Maharashtra, the plant covers an area of around 300 acres and is close to the expressway. It is about 45 kilometers from Pune city and about 100 kilometers from Mumbai Port.
