Great Wall Motors Signs MoU With Maharashtra Government For Investment In Talegaon Plant
GWM’s first couple of cars for the Indian market will be SUVs: the Haval F5 and F7
- GWM has set aside 1 billion US dollars (over Rs 7,500 crore) for phased investments in the Indian market.
- The Chinese carmaker will provide employment to 3,000 people at its Talegaon plant and Bengaluru R&D centre.
- The company could also consider exporting cars from its India plant.
Chinese-origin carmaker Great Wall Motors has reaffirmed its commitment to India by signing a Memorandum of Understanding (MoU) with the Maharashtra government. The MoU officially announces the carmaker’s investment in the Talegaon plant, which was formerly owned by General Motors, and had been acquired by GWM earlier this year.
According to GWM, its plant in Talegaon along with its R&D centre in Bengaluru will generate employment for 3,000 people in the near future. The company has also earmarked an investment of 1 billion US dollar (over Rs 7,500 crore) for the Indian market, which shall be made in a phased manner.
In its press release, the carmaker stated that the Talegaon plant is strategically located at a distance of 100km from the Mumbai port. This suggests that the carmaker could consider producing cars for the international market as well at the Talegaon plant.
GWM has plans to enter the Indian car market with a couple of SUVs, the Haval F5 and F7. The first one will arrive in the market sometime in 2021. While the F5 goes up against the likes of the popular Hyundai Creta and Kia Seltos, the bigger F7 will compete against the Jeep Compass and Tata Harrier.
Source :- CarDekho.com