AutoBeta(AutoBeta.net)02/22 Report--

A few days ago, we learned from the official of Great Wall Motor that Great Wall Motor plans to invest 11000 rupees (equivalent to RMB 10.45 million yuan) in India with its wholly-owned subsidiary Ted Science and Trade Co., Ltd. Among them, Great Wall Motor holds 99.9% of the shares with 109.89 million rupees (equivalent to RMB 10.44 million yuan), while Ted Science and Trade holds the remaining 0.1% shares. It is understood that Great Wall Motor is expected to officially enter the Indian market in 2021-2022.

According to the progress of subsidiaries invested by Great Wall, at present, the alternative names of the company are mainly Haval, including India Haval Automobile Private Limited Company, India Haval Private Limited Company, etc. From the name, it seems that Great Wall Motor will open up the Indian market with its Haval brand.

Great Wall Motors has a reason for entering the Indian market. According to statistics from India's Ministry of Commerce, India's commercial and passenger car sales in 2018 were 3.99 million units, up 8.3% year-on-year. Industry insiders speculate that the future size of the Indian auto market will be only the Chinese market. At present, among China's independent brands, only SAIC Group has opened up the market in India except Great Wall Motor.

According to statistics, in 2018, the cumulative export volume of Great Wall Motors was 46,900 vehicles, with a year-on-year growth of 19.98%; in January 2019, the growth momentum continued, and the export volume of Great Wall Motors was 3753 vehicles, with a year-on-year growth of 7.57%.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat