The situation of the auto market in India is not good, in such a situation, auto companies are trying to increase their sales through discount, in such a situation, the air of cold air has come from China. Many Chinese companies in the country are looking towards India with great expectations. Chinese companies see a lot of potential in the Indian market. There is great news for the auto sector of the country, which is waiting for investment. But there is also a tough challenge for Indian companies, as nearly half a dozen Chinese automobile manufacturers are ready to revive the country's economy. It is believed that in the next three to five years, these Chinese companies will invest about five billion dollars in the country's auto sector.
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In addition, Tata Motors is preparing to reduce its stake in luxury car company Jaguar-Land Rover (JLR) and has also started talks with Chinese company Geely. Also, China's heavy truck maker National Heavy Duty Truck Group Company Man Trucks has tied up with Mumbai-based Acker Company to manufacture trucks. The company is to build a truck called Sinotruk in China. At the same time, Beiqi Foton has tied up with North Indian company PML for electric buses. Photon has also acquired land in Chakan near Pune. Weichai, another Chinese company that manufactures engines, now plans to make horsepower engines for automobile companies. Market experts say that Chinese auto companies have the ability to challenge market players. He estimates that this will be similar to what happened in the smartphone market.
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Companies like MG Motors, BYD, Great Wall Motors, Changan and Beiqi Foton are planning to increase investment in India. Even their vendor partners will participate in it. Apart from this, big companies like Geely and Chery Scout also see the Indian market as a big opportunity. According to ET's report, SAIC, which owns MG Motors, will soon launch electric SUVs in India and is preparing to invest a second phase soon. At the same time, BYD will make buses from electric vans in India, for which it will make a big investment. MG Motors has already invested five thousand crore rupees in the country. Apart from this, Great Wall Motors is bringing its SUV and has opened its office in Gurugram as well as talks of buying General Motors' factory in Talegaon are almost in the final stages.
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