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SAIC Looks To Be The First Chinese Automaker To Enter India — New Chinese Revolution On The Cards?
China's largest automobile company, SAIC is planning to enter the Indian market and has already hired top executives in the country.
SAIC Motor is looking to become the first Chinese company to sell its cars in the Indian market, as the company has started hiring key executives. This information is revealed by people close to the development.
The Indian unit of the China's largest automobile company, MG Motor India will sell the vehicle under the MG tag. SAIC acquired the British brand from Chinese firm Nanjing Automobile about a decade ago.
Former India head of General Motors, Rajeev Chhaba will be the new CEO and seven more people are hired to lead the finance, human resources, purchase, IT and other functions.
SAIC has also got approval from the Competition Commission of India to acquire General Motors' manufacturing facility at Halol in Gujarat.
If everything goes to plan, then SAIC is ready to take over the plant by April and roll out the first vehicles from the facility by next year or early 2019. If not, the company is willing to build a new facility.
Another General Motors India veteran, P Balendran also joined the company as top executive. Both Chhaba and Balendran are currently working as advisers and the formal appointment will happen later.
SAIC has also hired KPMG for the study of the Indian market, whereas PwC has estimated the cost of the General Motors plant. The company has roped in EY to finalise suppliers. But the major hurdle to start the operations is the labour issues at the GM plant.
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