Shanghai Automotive Industry Corporation, commonly called SAIC, has formally announced that it will enter the Indian market in 2019. SAIC, which is China’s largest carmaker at present, was seriously looking to enter the Indian market for a couple of years now. It is also likely that the company will commence it’s India operations with its popular MG brand.
SAIC will enter India with the iconic British marque, the MG Motor brand.
Reports suggest that the company is set to invest over Rs 3000 crores for its first phase of investment. That will take place once the plant gets localized. The company’s Indian subsidiary is registered as MG Motor India, headed by former General Motors India CEO, Mr. Rajeev Chaba, with another GM veteran in India, Mr. P.Balendran in the helm as Executive director.
MG Motor India will focus on launching SUV’s to the Indian market, despite having a wide range of cars with different body styles. The automaker is also discussing a deal with General Motors India on acquiring the now shut Halol plant in Gujarat. There has been no confirmation about this yet, but SAIC has been cleared of it earlier this year by the commission of India.
SAIC has been in talks with General Motors India regarding the purchase of the latter’s Halol plant in Gujarat, but is yet to officially sign a formal agreement to acquire it.
The news of all the top GM officials joining the company could prove useful given that they have some knowledge about our market. SAIC will begin its Indian innings just the way GM did, and also did again, with Opel and Chevrolet respectively. It remains to be seen whether SAIC will have a stronger commitment towards India compared to the ones mentioned above.
Checkout more pictures and a video, after a jump.
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