A Chinese storm is approaching India’s automobile sector and it has the potential to change its landscape forever.
The automobile industry in India is dominated by homegrown automobile manufacturers in addition to Korean and Japanese brands. However, at the Auto Expo this year, two of China’s biggest carmakers—Great Wall Motors (GWM) and FAW Haima—announced their intention to sell vehicles in India, across segments, entering into even the fledgling electric vehicle (EV) market. Many more are planning a similar foray into the world’s fourth-largest automobile industry.
GWM, China’s largest sports vehicle manufacturer, showcased its Haval range of SUVs at the Auto Expo, in addition to the Ora EV. FAW Haima showcased the FAW Haima 8S and 7X SUVs, and has firmed up plans with Delhi-based Bird Group to launch an EV priced at less than ₹10 lakh. In all, Chinese carmakers exhibited more than 20 models at the Auto Expo.
Shanghai-headquartered SAIC Motor has already been selling MG cars in India since last year. Changan Automobiles, a car maker owned by the China government, is also likely to begin operations in India by 2022, apart from other companies like Chery Automobile based in Wuhu and the Geely Auto Group from Hong Kong.
Their planned entry comes at a time when India’s automobile sales declined by 16 percent between April 2019 and February 2020. China also saw its market shrink, with vehicle sales falling by over 8 percent in 2019, forcing companies to look outside the world’s second-largest automobile market, which is behind only the US.
Esta historia es de la edición April 10, 2020 de Forbes India.
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