Great Wall Motors announces US$ 1 Billion investment in India - IAB Report

Great Wall Motors has announced that it will invest US$ 1 Billion (INR 76,09,85,00,000.00 or INR 7,610 crore) in India. The company had introduced its vehicles in India via the Haval brand and a new GWM EV brand at Auto Expo 2020.

GWM had signed an agreement with GM to acquire its plant in Talegaon, Maharashtra in January. Yesterday, the company announced that it has signed an MoU with Maharashtra government about the investment in this plant. The company says that this plant and the R&D centre in Bengaluru, established in 2016, will generate employment for over 3,000 people in a phased manner.

The US$ 1 Billion investment in India will be done in a phased manner and is directed towards manufacturing products, R&D centre, building supply chain and providing the jobs. Most new automakers are entering India with SUVs these days, and the same is expected from GWM.

Internationally, GWM has four brands: Haval, Ora, Wey and GWM Pickup. In India, the company’s first launch will most likely be a Haval compact SUV. This Haval C-SUV will go against likes of Tata Harrier, MG Hector, Jeep Compass and (next-gen) Hyundai Tucson, basically the C-SUVs manufactured in India. The EVs to be launched under the GWM EV brand will probably be at least a year away from then.

Great Wall Motors hasn’t revealed when it plans to launch its first model. While the Coronavirus outbreak could have pushed back the launch date by a few months, we still expect 2021 to be the year of the launch of the first Haval SUV in India.

Also Read: At least 5 Haval SUVs priced up to INR 50 lakh planned for India

Stay tuned to IndianAutosBlog.com for the latest Haval updates and other four-wheeler news.