SAIC to set up fully-owned manufacturing plant

“The company is in the process of finalising its manufacturing facility and is firming up its product strategy for the Indian market, details of which will be announced at a later stage,” the company’s Indian subsidiary MG Motor India said.

By: ENS Economic Bureau | Mumbai | Published:June 29, 2017 4:25 am

China’s largest automobile manufacturer SAIC Motor on Wednesday, announced its plans to enter India with a fully-owned manufacturing plant. The company said it plans to begin operations in the country by 2019. SAIC, however, did not mention the location where it plans to set up the facility.

“The company is in the process of finalising its manufacturing facility and is firming up its product strategy for the Indian market, details of which will be announced at a later stage,” the company’s Indian subsidiary MG Motor India said. The firms has for long been rumoured to be in talks with General Motors India to acquire its recently shut facility in Halol, Gujarat, after it decided to exit India due to poor sales.

When contacted, the company dismissed all speculations. It also did not disclose the models it plans to launch in the Indian market. MG Motor India also confirmed the appointment of industry veteran Rajeev Chaba as the president and managing director of the company. (With Inputs from FE)

For all the latest Business News, download Indian Express App

  1. No Comments.