Greater Noida: China’s largest sport vehicle manufacturer, Great Wall Motors, unveiled its Haval brand of sport utility vehicle (SUV) and vehicle concept 2025 to mark foray into the Indian market.
Great Wall will be the second vehicle manufacturer from China to enter the Indian market after SAIC Motor Corp-owned MG Motor India.
Last month, Hebei-based Great Wall Motors announced its decision to acquire the Talegaon-based vehicle manufacturing plant of American vehicle maker General Motors.
“Over the past decade, GWM has invested more than $1.5 billion for research and development of cutting-edge technologies such as new energy, intelligent network connection and autonomous driving, and build exclusive platforms and product lineup for new energy vehicles," said the company in a press release.
Great Wall plans to invest around ₹7000 crore in India in a phased manner, covering manufacturing plant, vehicle research and development, production of power batteries and electric drives, vehicle and component manufacturing, it said.
The Chinese company has also invested in manufacturing of lithium batteries and components for combustion engine vehicles.
“India has become one of the world's fastest growing major economy, and the auto market is promising, making it a preferred investment destination for most auto companies. At this 15th edition of the Auto Expo 2020, we are introducing our Global Intelligent SUV Expert brand – HAVAL and plan to cover the complete range of SUVs which will be the preferred choice of the young, dynamic and new generation consumers of India," said Hardeep Singh Brar, director, sales and marketing of Indian operations of Great Wall Motors.
The company also plans to invest in manufacturing of electric vehicles and related components in India in the coming years.