Great Wall Motors Targets Indian SUV market
Great Wall Motors Company Limited is an automobile manufacturer which was formed in the year 1984. It is a Chinese based company headquartered in Baoding, Hebei, China which specializes in manufacturing SUV’S and pickup trucks. GWM is a listed company in Hong Kong as well as the Shanghai Stock Exchange. Having over 70 subsidiaries, it is China’s largest SUV and pickup truck producer. HAVAL, WEY, ORA and GWM Pickup are the four Brands which GWM owns.
GWM India’s plan
GWM is planning to expand its business by targeting the Indian Markets with their SUV’s. They will be making a 1 Billion $ Investment in the Indian Market. GWM plan to bring out their SUV’S and electric vehicles under their HAVAL Brand and GWM brand respectively.
GWM has already signed an agreement with MG Motors in January for the acquisition of their Talegaon Factory in Maharashtra having an annual capacity of 1.37 lakh units.
After MG Motors introduction last year, Great Wall Motors (GWM) is the second Chinese manufacturer to enter the Indian Market. GWM plans to bring out its first vehicle by the first quarter of 2021 after getting a tremendous response at the Auto Expo. By 2022-2023, Electric Vehicles and Mid-Size SUV’s will also be rolled out.
Great Wall Targets Premium SUVs
GWM is set to compete with MG Hector, Jeep Compass, Kia Seltos and Tata Harrier in the SUV section. In the Premium Electric SUV, GWM is set to rival against MG Motor E-ZS and Hyundai Kona. They are set to introduce their SUV’s ranged between 10-20 lakh.
The Director of Great Wall Motors India Mr Hardeep Singh Brar stated that that are excited to lay a foundation in India after getting a tremendous response at the Auto Expo. He also said that India has emerged as one of the fastest-growing economies with a promising Automobile Market. GWM is set to introduce its various SUV for all the different segments of consumers.
GWM’s investment is set to provide approximately 3,000 direct employment in phases. The investment includes manufacturing vehicle and component, power batteries, electric drives and R&D of vehicles.
During the Auto Expo 2020, GWM displayed 4 SUV’s which included the Haval F7, Haval F5, Haval H9 and Haval FX. GWM also introduced 2 Electric cars named iQ and R1. The Vision 2025 Pure Electric SUV and the Haval Concept H Plug-in Hybrid Electric SUV were also revealed during the Auto Expo 2020.
After successful projects in Bulgaria, Iran, Russia etc, GWM is set to mark its way in India. GWM is also set to expand into Thailand. With China having a downfall in the domestic passenger vehicle industry, GWM has set its sights on the Indian Markets.
It will be a tough task for GWM to compete with Maruti Suzuki and Hyundai as they have over 50% of the market share.
Great Wall Motors plans SUV to Target Mass Market in India