The Chinese automaker, Great Wall Motors is about to invest more than $1 billion in India. The prospective investment by Great Wall Motors is close to the largest automobile company, SAIC which is investing INR 5,000 Crore in the country.
Great Wall Motors has approved an India unit under Haval India to be headquartered at Gurgaon in the national capital region and the team is being put in place to define the blueprint, people who are aware of the matter told the Indian daily news, The Economic Times.
Great Wall approved a $1.6-million investment in February to set up the local office, which may be named India Haval Auto, India Haval or India Haval Auto Sales. The final name is subject to approval by local authorities, reported by the aforementioned newspaper.
The above-cited people have said that a senior executive of the Chinese automaker is in the country and searching location to set up a manufacturing unit. Tamil Nadu, Gujarat and Andhra Pradesh can be one of the sites to establish the manufacturing unit.
Great Wall is planning to launch its first SUV car in the fourth quarter of FY2022. Currently, the company is deciding to participate in Auto Expo 2020.