China’s automaker, Great Wall Motors (GWM), declared the company’s India opening on the opening day of the Auto Expo. The Motor Show in 2020, on Wednesday and pledged that it will invest $1 billion into the nation. The company was able to establish the first Research and Development (R&D) center in India in 2016. Hardeep Singh Brar, director of sales and marketing, told Entrepreneur India in an interview.
The GWM pavilion featured eight models of GWM’s Haval as well as GWM’s EV brands. The two concept cars -Vision 2025 and Concept H –as well as the small electric car (EV) R1, were unveiled during the press conference held during the Expo.
The R1 is marketed as the most affordable electric vehicle (EV) worldwide that is sold only in China. In terms of price, the R1 is cheaper than Mahindra’s cheapest electric vehicle in India, the eKUV, which costs the price of INR 8.25 lakh. This eKUV was also launched at the Auto Expo on Wednesday. Auto Expo on Wednesday.
The two-Haval concept car, Vision 2025, is a fully electric SUV. Concept H is a plug-in hybrid SUV. The date for the launch of both vehicles is not yet known. Y. However, GWM’s first SUV is expected to hit the Indian market in 2021.
It is in line with the Indian government’s goal of car electric vehicles; GWM will also introduce a new energy brand in India called Great Wall EV. “On January 17, 2020, GWM and General Motors signed an agreement to acquire the General Motors India’s Talegaon factory. GWM will realize the production of EV and SUV models under Great Wall at this plant,” the press release said.
When asked to explain why GWM is launching in India at a time when the auto industry in India is in a state of stress, Brar told Entrepreneur India that the SUV sector has been left unaffected. GWM is not likely to be impacted. “GWM is an SUV manufacturer and we are bullish on the sector’s growth in the country,” Brar told the publication.
In his remarks at the event, Brar said that India is becoming a preferred location for investment by the majority of automakers. “India has become one of the world’s fastest-growing economy, and the auto market is promising,” Brar said in an official statement.
With a presence in 14 manufacturing facilities across the globe, GWM claims to be the largest Chinese sports utility vehicle (SUV) maker. GWM aims to bring the same successes in its Indian market. The company plans to invest a projected amount of around $ 1 billion (approximately INR 7,000 crore) in India in manufacturing facilities, research and development, vehicles, the manufacturing of power batteries, electric drives, production components, and vehicles.