SAIC Motor enters Indian automobile market with plans to set up manufacturing facility
SAIC Motor said that it will commence operations in the country by 2019 and is in the process of finalising its manufacturing facility and its product strategy for the Indian market.
- Plans to enter Indian automobile market through a fully-owned car manufacturing facility
- SAIC Motor's in India will also operate through the iconic British sports car brand MG Motor
- Announces two key appointments into the company
SAIC Motor on Wednesday announced its plan to enter the Indian automobile market through a fully-owned car manufacturing facility in the country. One of the largest automobile giant in China, said that it will commence operations in the country in 2019.
SAIC Motor's in India will also operate through the iconic British sports car brand MG (Morris Garages) which it introduces into the country.
“The introduction of the iconic British Sports Car Brand ‘MG' in India is an important part of SAIC Motor’s global strategy. Our aim is to provide best-in-class vehicles, integrating sophisticated British design and quality, breakthrough product features and a pleasing ownership experience,” the company said in a statement. The MG brand, which originated as an iconic British Racing Sports Brand in the year 1924, has evolved into a modern-day innovative brand through the last 93 years,” it said in a statement.
SAIC Motor said that its operations will create sizeable employment opportunities under the Make in India and Skill India initiatives and positively contribute to the economic development of the region.
The company is in the process of finalising its manufacturing facility and is firming up its product strategy for the Indian market, details of which will be announced at a later stage.
“Ranked 46th in the Fortune Global 500 list, with an annual revenue of over $100 billion, SAIC Motor is pleased to be part of the expanding Indian automotive market, slated to be the third-biggest in the world by the year 2020,” said the company in a statement.
MG products, that are designed and engineered at its European and Global Design Centres, will now also be manufactured in India while conforming to global quality standards and aligning with the Indian regulations, emission norms and driving conditions, it said.
SAIC Motor’s recent launch of a breakthrough ‘internet car’ in collaboration with Alibaba in the ‘connected car space’ is a new milestone in the global automotive industry which has seen unprecedented success. “This was possible by integrating the premium technological resources through the company’s leading world-class supplier base,” the company said.
With the establishment of its fully-owned subsidiary, “MG Motor India”, the company today also announced some senior level appointments. Rajeev Chaba, a veteran with over two decades of experience in the automotive sector will be the President and Managing Director of MG Motor India.
Rajeev’s last assignment was as global COO in Vanguard Logistics, USA and as an operating partner of ManCapital, a UK based Private equity firm. Prior to that, he had worked in world class automobile companies in senior positions at different locations including Dubai, India, Japan and China.
P Balendran, also with a wealth of experience in the auto sector has been appointed as the Executive Director. Balendran has joined MG Motor India after spending over 18 years in global automobile companies in senior positions. Before that, he had also worked in many other organisations and renowned companies within India and abroad in various senior positions.