Great Wall Motors (GWM) recently announced its foray into the Indian market during Auto Expo, with a commitment of $1 billion (₹ 7,000 crore) and a full portfolio of products that includes SUVs from its Haval brand across different segments and electric vehicles under the GWM brand.
In January 2020, the company had signed an agreement with General Motors to acquire its Talegaon, Maharashtra factory with an annual capacity of 1.37 lakh units.
Speaking on India’s economic growth, Hardeep Singh Brar, Director, Sales & Marketing, GWM, mentioned, "India has become one of the world's fastest growing major economy, and the auto market is promising, making it a preferred investment destination for most auto companies. At this 15th edition of the Auto Expo 2020, we are introducing our global intelligent SUV brand - Haval and plan to cover the complete range of SUVs, which will be the preferred choice of the young, dynamic and new generation consumers of India."
The company's investment in India includes vehicle R&D, production of power batteries and electric drives, vehicle and component manufacturing and will provide estimated 3,000 direct employment in a phased manner.
As the domestic passenger vehicle industry is witnessing a steep downturn, Chinese automakers like GWM, MG Motors and BYD have turned their attention to the market. India is poised to become the third largest vehicle market in the world by 2025.