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China based Great Wall Motors announced that it signed a Memorandum of Understanding with the Maharashtra Government that will help create over 3,000 jobs.
The brand officially announced an investment in a state-of-the-art automotive manufacturing facility at Talegaon in Maharashtra. The plant will feature the latest technology, and along with Great Wall Motor's Research and Development facility at Bengaluru will contribute towards employment for over 3,000 people in a phased manner.
China's largest manufacturer of SUVs made its entry into the Indian market at the recent Auto Expo, with a USD 1 billion investment plan. The company says they are now more committed as ever, in spite of the Covid-19 crisis.
Mr Parker Shi, the Managing Director of the Indian subsidiary of Great Wall Motors said, "This would be a highly automated plant in Talegaon with advanced robotics technology integrated in many of the production processes."
"Overall we are committed to $1 billion of investment in India in a phased manner, which is directed towards manufacturing world-class intelligent and premium products, R&D centre, building supply chain and providing jobs to over 3,000 people in a phased manner," he added.
January this year saw GWM sign an agreement to acquire General Motors' Talegaon facility. The production facility is massive and houses a logistics distribution center, a training center, a project management building, an administrative office building, and a public facilities center.
GWM's entry into India comes at a time when China's economy and Auto Industry have witnessed steep declines. This is the auto makers second major market entry, the first being Russia.
Great Wall Motors intends launching two brands in the country - the Haval, and the GMW EV. The Haval range of vehicles will cater specifically to the SUV segment, while the GMW EV brand will manufacture non-SUV electric vehicles for the Indian market.
Thoughts About GMW Signing A Memorandum Of Association
This is good news for the local economy and the Auto Industry. More brands in the segments mean better competition, and more competitive prices in the particular segment. What remains to be seen is how well the masses accept Chinese made vehicles in the country.