RPK
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https://auto.economictimes.indiatim...roduct-and-investment-plans-revealed/72098757
New Delhi: After SAIC and Great Wall Motor, it’s the turn of Chinese auto major Changan Automobile to get its India plans ready.
High-level delegates from China government-owned SUV maker have been regularly visiting India for the last few months and have finalised several decisions pertaining to its India entry, three sources aware of the matter told ETAuto.
According to the first person, the company has indicated to the local state governments its intention to invest about Rs 4,000 crore (about $550 million) in India in a phased manner.
The Chinese government-owned SUV maker has already formed a liaison firm by the name of Changan International Corporation. The company has taken a space in Gurugram for office which will be operational soon, another person in the know informed.
Changan plans to start its operations in India with two-SUVs including CS75 and one more SUV in the Creta segment.~According to the second source, Changan appointed industry veteran Sanjay G as India expert to expedite the process here two weeks ago. Sanjay brings along over 15 years of experience in automobile space spanning across Honda Siel Cars, Toyota Kirloskar, Mahindra & Mahindra, Hyundai and Nissan Motor.
The SUVs and electric vehicles maker from China has also signed an MoU with Group Landmark, a company with interests in automobile dealerships and insurance. According to the second person aware of the matter, Changan will form two different companies – one each for manufacturing and distribution and sales & services.
The latter company will be a joint venture with Group Landmark, which already have one of biggest dealership network of brands like Mercedes Benz, Nissan, FCA.
Read also
China’s Great Wall forms India unit; may invest Rs 7,000 crore
Chinese investments breathe life into Motown
Group Landmark which has two verticals -insurance and automotive retail, will form a new vertical for Changan in a JV. The arrangement is expected to be closer to what Nissan India had with Hover Automotive initially.
Changan plans to enter Indian market with two SUVs including CS75.
Group Landmark also owns policyboss.com and its automotive business has got investments from TPG Growth, a leading PE fund.
According to a third person aware of the development, the Chinese carmaker is in advance stages of discussion with Gujarat and Andhra Pradesh to set up greenfield operations.
The company has indicated to the local state governments its intention to invest about Rs 4,000 crore (about $550 million) in India in a phased manner.`According to one of the sources, the company is looking to start Indian operation with first product launch by the end of 2022. It plans to start with two-SUVs including CS75 and one more SUV in the Creta segment. Changan had done the first feasibility study for India two-years ago.
The company which has recently set up its operations in Pakistan is looking at making India its export hub for right- hand drive markets.
The recent debut by China’s SAIC and South Korea's Kia Motors have encouraged the Chinese SUV maker to fast track its India debut.
New Delhi: After SAIC and Great Wall Motor, it’s the turn of Chinese auto major Changan Automobile to get its India plans ready.
High-level delegates from China government-owned SUV maker have been regularly visiting India for the last few months and have finalised several decisions pertaining to its India entry, three sources aware of the matter told ETAuto.
According to the first person, the company has indicated to the local state governments its intention to invest about Rs 4,000 crore (about $550 million) in India in a phased manner.
The Chinese government-owned SUV maker has already formed a liaison firm by the name of Changan International Corporation. The company has taken a space in Gurugram for office which will be operational soon, another person in the know informed.
Changan plans to start its operations in India with two-SUVs including CS75 and one more SUV in the Creta segment.~According to the second source, Changan appointed industry veteran Sanjay G as India expert to expedite the process here two weeks ago. Sanjay brings along over 15 years of experience in automobile space spanning across Honda Siel Cars, Toyota Kirloskar, Mahindra & Mahindra, Hyundai and Nissan Motor.
The SUVs and electric vehicles maker from China has also signed an MoU with Group Landmark, a company with interests in automobile dealerships and insurance. According to the second person aware of the matter, Changan will form two different companies – one each for manufacturing and distribution and sales & services.
The latter company will be a joint venture with Group Landmark, which already have one of biggest dealership network of brands like Mercedes Benz, Nissan, FCA.
Read also
China’s Great Wall forms India unit; may invest Rs 7,000 crore
Chinese investments breathe life into Motown
Group Landmark which has two verticals -insurance and automotive retail, will form a new vertical for Changan in a JV. The arrangement is expected to be closer to what Nissan India had with Hover Automotive initially.
Changan plans to enter Indian market with two SUVs including CS75.
Group Landmark also owns policyboss.com and its automotive business has got investments from TPG Growth, a leading PE fund.
According to a third person aware of the development, the Chinese carmaker is in advance stages of discussion with Gujarat and Andhra Pradesh to set up greenfield operations.
The company has indicated to the local state governments its intention to invest about Rs 4,000 crore (about $550 million) in India in a phased manner.`According to one of the sources, the company is looking to start Indian operation with first product launch by the end of 2022. It plans to start with two-SUVs including CS75 and one more SUV in the Creta segment. Changan had done the first feasibility study for India two-years ago.
The company which has recently set up its operations in Pakistan is looking at making India its export hub for right- hand drive markets.
The recent debut by China’s SAIC and South Korea's Kia Motors have encouraged the Chinese SUV maker to fast track its India debut.
- sorry I had to LOL.
