Changan Automobiles Announces India Plans: To Invest Rs 4000 Crore

Chinese auto giant Changan Automobiles has announced that it plans to make an entry in to the Indian markets. Changan Automobiles will be the third Chinese manufacturer to make its way to India, after SAIC and Great Wall Motor. Changan Automobiles is a government owned company.

Changan Automobiles Announces India Plans: To Invest Rs 4000 Crore

According to Economic Times Auto, senior level officials from Changan Automobiles have been visiting India over the last few months, and have almost finalized most of its decisions regarding to its entry in India.

Changan Automobiles Announces India Plans: To Invest Rs 4000 Crore

Sources go on to say that the Chinese company has hinted to local state governments that it intends to invest roughly Rs 4,000 crore In the country, over multiple phases. Changan Automobiles has already set up a liaison firm called Changan International Corporation, and has its registered office at Gurugram.

Changan Automobiles Announces India Plans: To Invest Rs 4000 Crore

The Chinese company has hired Mr Sanjay G in order to speed up processes in the country. Mr G brings with him over 15 years of experience in the automobile industry with a career spanning across Honda Siel Cars, Toyota Kirloskar, Mahindra, Nissan, and Hyundai.

Changan Automobiles Announces India Plans: To Invest Rs 4000 Crore

In addition, Changan Automobiles has signed a Memorandum of Association with Group Landmark. Group Landmark has interests in automobile dealerships and insurance, and will be involved with setting up dealerships and selling insurance for Changan's range of SUVs.

Changan Automobiles Announces India Plans: To Invest Rs 4000 Crore

Changan is planning to form two companies in India. One company will be manufacturing and production specific, and the other will handle distribution, sales & services. Group Landmark will be involved with the distribution, sales & services part as they already have the largest network of brands including Mercedes Benz, Nissan, and FCA.

Changan Automobiles Announces India Plans: To Invest Rs 4000 Crore

Group Landmark current has two verticals of its own - insurance and automotive retail. The company will set up a third vertical for the Changan joint venture.

Changan Automobiles Announces India Plans: To Invest Rs 4000 Crore

Rumor has it that Changan Automobiles is in advance stage discussions with governments of the states of Gujarat and Andhra Pradesh to set up greenfield operations. The company intends to launch its first product in India by the end of 2022.

Changan Automobiles Announces India Plans: To Invest Rs 4000 Crore

Thoughts About Changan Automobiles' India Plans

We're prepping for a Chinese invasion. SAIC and Great Wall Motor have already made an entry in to the Indian markets, and now we have a Chinese government owned auto manufacturer making an entry. We wonder what the Koreans think this.

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Read more on: #auto news
Article Published On: Tuesday, November 19, 2019, 12:23 [IST]
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