On Wednesday, the first day of Auto Expo 2020, top Chinese automakers SAIC Motor Corp., Great Wall and Haima Automobile made their debut. They indicated their plans of moving in aggressively to India, the fourth-largest auto market in the world.
Tata Motors Ltd, Mahindra and Mahindra Ltd (M&M) and Hyundai Motor India Ltd, who are the incumbents also got ready for the challenge. They have declared numerous new car launches near the mid-term.
MG Motor India Pvt. Ltd, which is a unit of SAIC, has planned to add at least six new vehicles through 2025 to their Hector sport-utility and ZS electric SUV. According to Great Wall and Haima, they are going to launch new cars in India in the next few quarters.
MG declared that their new vehicles will include a 6-7 seater multi-utility vehicle (MUV), a full-sized SUV named Golster, and an undisclosed model which is expected to drive a lot of sales beginning next year.
Rajeev Chaba, managing director of MG Motor India said, “We had initially spoken about four product launches in the first 2 years, and thereafter one new product every year until 2025.” The fourth vehicle is scheduled to launch in the first quarter of 2021.
He also said, “The product range that we are showcasing at the auto expo includes almost all those vehicles that for us are possible to launch here. In a way, we are also trying to assess the feedback.”
MG Motor India is displaying its abilities in the product line-up and technologies that are on offer in the global market. They are showcasing 14 vehicles.
There are also plans from Great Wall of investing in the setting up of a manufacturing unit for lithium-ion batteries and internal combustion engines (petrol, diesel) and their components in India.
Hardeep Singh Brar, director of sales and marketing of India operations of Great Wall Motors said, “India has become one the world’s fastest growing major economies, and the auto market is promising, making it a preferred investment destination for most auto companies.”
Talking about the company’s SUV plans, Brar added, “Fundamentals are very simple. We want to be in the SUV and the EV segments. Growing SUV segment makes it a perfect scenario for us to enter this market.