Xinhua Silk Road: SAIC Motor gains momentum in India with 31,000 orders received by September
NEW DELHI, Oct. 15, 2019 /PRNewswire/ -- The Shanghai-based Chinese automaker SAIC Motor Corporation Limited (SAIC Motor, 600104.SH) is gaining momentum in India, with its production base opened in April this year and receiving 31,000 orders in three months after the launch of MG Hector.
Eyeing the huge potential in the Indian market, SAIC Motor announced in early 2017 to invest 3.275 billion yuan to build a car manufacturing base and supporting supplier park in India by acquiring and remodeling General Motors India's Halol plant in Gujarat of western India.
Covering an area of 700,000 square meters with a planned annual production capacity of 56,000 cars, the Indian base is the third overseas auto production base of SAIC Motor in addition to its Thai and Indonesian bases, and makes SAIC Motor the first Chinese automaker investing in India.
On June 27 this year, SAIC Motor launched its first auto type MG Hector in the Indian market. Equipped with SAIC Motor's self-developed i-Smart intelligent driving system which was improved to cater to the Indian consumers, MG Hector has been selling well as the first Internet auto type in India.
By September 29, three months after the product launch, the Indian base of the Chinese automaker had received 31,000 orders with 7,000 new cars already delivered.
The strong presence of SAIC Motor in India has not only created jobs for locals but also injected vitality into local economy, with 50-odd percent of the auto parts produced by local firms. Besides, its Internet cars have also created new business for local enterprises focusing on Internet services, artificial intelligence and other innovation areas.
Currently, the Indian government is endeavoring to promote new energy vehicles (NEVs). This is favorable for SAIC Motor, according to an employee with MG Motor India Pvt. Ltd., as it boasts related technologies and plans to launch MG EZS, a type of NEVs of its own brand, to the Indian market by the end of this year.
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