China’s largest automobile manufacturer SAIC Motor on Wednesday, announced its plans to enter India with a fully-owned manufacturing plant. The company said it plans to begin operations in the country by 2019. SAIC, however, did not mention the location where it plans to set up the facility. “The company is in the process of finalizing its manufacturing facility and is firming up its product strategy for the Indian market, details of which will be announced at a later stage,” the company’s newly formed Indian subsidiary MG Motor India said in a statement. The company has for long been rumoured to be in talks with General Motors India to acquire its recently shut facility in Halol, Gujarat, after it decided to exit India due to poor sales.
When contacted, the company dismissed all speculations. It also did not disclose the models it plans to launch in the Indian market. MG Motor India also confirmed the appointment of industry veteran Rajeev Chaba as the president and managing director of the company. P Balendran has been appointed as the executive director. “Their wide and varied experience in the auto sector will lead the company to a successful future in India. The company has also started functional level appointments to further strengthen its operations going forward,” the company said.
The company is located in various markets across the world including countries like the UK, USA, Europe, Australia, New Zealand, South America, Middle East, South East Asia, Thailand and Indonesia. While General Motors decided to shut shop in the country, various other international players have decided to enter one of the world’s largest automobile market. Apart from SAIC Motor, Kia Motors and the PSA Group are other manufacturers who plan to enter the country soon. India is expected to become the world’s third largest automobile market by 2020.