Dragon has tasted remarkable victory in Indian smartphone and electronic devices market and now it going to conquer the most desirable auto sector of India through its automobile giant SAIC.
The Chinese companies have slowly made their presence felt in Indian automobile market through their products in public transport and commercial vehicle segment but that all is soon going to change. The USD 129 billion SAIC Motor Corporation which is China’s largest car manufacturer and is ranked 41st in Fortune 500 companies is entering Indian auto sector in Jun-19 through its fully owned British subsidiary Morris Garages, commonly known as MG Motors.
Hector from MG Motors - the smart car which is internet enabled would be launched for the first time in Indian automobile arena. The car would be in the range of Rs.15 to 20 lakhs in the most preferred SUV segment. The company plans to launch 4 vehicles during the next eighteen months.
The GM plant at Halol, Gujarat, was acquired by SAIC last year to manufacture Hector, which would come with iSMART internet car functionality boasting of the credit of being the first car with 48 volt lithium ion battery which gives better torque assistance and helps in storing energy.
India is poised to become the 3rd largest automobile market by 2025 after USA and China and is attracting attention from auto giants across the globe. The feature-rich Hector is going to disrupt the Indian auto sector starting from SUV segment and would also see many upgrades in the compact cars segment including an electric car eZS. SAIC operates in 41 countries including UK, Australia, Thailand and Middle East and has already committed an investment of Rs.2200 cr in the 1st phase of Indian operations. Over a 5 year period the company plans to invest Rs.5000 cr based on Indian market conditions.
Image Source: Just Auto
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