Great Wall Motor has agreed to buy General Motors’ car plant in India, the companies said last week, as the Chinese automaker expands overseas amid slowing domestic demand.
Employees work on the assembly line at the General Motors plant in Talegaon, about 118 km from Mumbai
The deal, which is expected to be completed by the
second half of 2020, will jumpstart Great Wall’s plans to build and sell cars
in India and bring to an end GM’s manufacturing operations in the country.
“The Indian market has great potential, rapid economic growth and a good
investment environment. Entering the Indian market is an important step for
Great Wall Motors’ global strategy,” Liu Xiangshang, vice president, global
strategy at the Chinese automaker said.
Great Wall, one of the biggest sellers of sports-utility vehicles (SUV) in China, plans to enter India with its Haval and electric vehicle brands and will announce detailed plans at the Delhi auto show in February, Liu said in the statement.
