• Friday, December 13, 2019

Chinese Changan Automobiles' investment plans revealed

Discussion in 'Central & South Asia' started by RPK, Nov 22, 2019.

  1. RPK

    RPK SENIOR MEMBER

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    https://auto.economictimes.indiatim...roduct-and-investment-plans-revealed/72098757

    New Delhi: After SAIC and Great Wall Motor, it’s the turn of Chinese auto major Changan Automobile to get its India plans ready.

    High-level delegates from China government-owned SUV maker have been regularly visiting India for the last few months and have finalised several decisions pertaining to its India entry, three sources aware of the matter told ETAuto.

    According to the first person, the company has indicated to the local state governments its intention to invest about Rs 4,000 crore (about $550 million) in India in a phased manner.

    The Chinese government-owned SUV maker has already formed a liaison firm by the name of Changan International Corporation. The company has taken a space in Gurugram for office which will be operational soon, another person in the know informed.

    Changan plans to start its operations in India with two-SUVs including CS75 and one more SUV in the Creta segment.~According to the second source, Changan appointed industry veteran Sanjay G as India expert to expedite the process here two weeks ago. Sanjay brings along over 15 years of experience in automobile space spanning across Honda Siel Cars, Toyota Kirloskar, Mahindra & Mahindra, Hyundai and Nissan Motor.

    The SUVs and electric vehicles maker from China has also signed an MoU with Group Landmark, a company with interests in automobile dealerships and insurance. According to the second person aware of the matter, Changan will form two different companies – one each for manufacturing and distribution and sales & services.

    The latter company will be a joint venture with Group Landmark, which already have one of biggest dealership network of brands like Mercedes Benz, Nissan, FCA.

    Read also
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    China’s Great Wall forms India unit; may invest Rs 7,000 crore

    [​IMG]
    Chinese investments breathe life into Motown


    Group Landmark which has two verticals -insurance and automotive retail, will form a new vertical for Changan in a JV. The arrangement is expected to be closer to what Nissan India had with Hover Automotive initially.
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    Changan plans to enter Indian market with two SUVs including CS75.
    Group Landmark also owns policyboss.com and its automotive business has got investments from TPG Growth, a leading PE fund.

    According to a third person aware of the development, the Chinese carmaker is in advance stages of discussion with Gujarat and Andhra Pradesh to set up greenfield operations.

    The company has indicated to the local state governments its intention to invest about Rs 4,000 crore (about $550 million) in India in a phased manner.`According to one of the sources, the company is looking to start Indian operation with first product launch by the end of 2022. It plans to start with two-SUVs including CS75 and one more SUV in the Creta segment. Changan had done the first feasibility study for India two-years ago.

    The company which has recently set up its operations in Pakistan is looking at making India its export hub for right- hand drive markets.

    The recent debut by China’s SAIC and South Korea's Kia Motors have encouraged the Chinese SUV maker to fast track its India debut.
     
  2. Goku

    Goku FULL MEMBER

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    We need JVs with Chinese EV manufacturers. They are leaders in this sector. Only chinese EVs can make it in India as they can produce it cheap yet good. Tesla is of no use in India
     
  3. Bilal9

    Bilal9 ELITE MEMBER

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    OK not gonna troll, but I heard even last month's Indian auto sector massive layoffs weren't enough.

    If things are this bad, then how do the Chinese auto sector investments in India make sense. Sounds a bit hokey, sorry to say...
     
  4. Beast

    Beast ELITE MEMBER

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    Efficiency is the key.
     
  5. Goku

    Goku FULL MEMBER

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    Oh worried about Indian automotive slowdown yet Chinese investing while ignoring Bangladesh with 8 % growth rate??
    Probably Chinese investors know better than some unknown guy living dont know where.
     
  6. shi12jun

    shi12jun FULL MEMBER

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    Sino-Indian cooperation and win-win:cheers::cheers::cheers:
     
  7. Galaxy D

    Galaxy D BANNED

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    Meanwhile too many chinese "tourists" getting arrested in India.

    1. https://www.hindustantimes.com/indi...lhi-airport/story-sZn4lZZN8oauv9nf5HxcvJ.html

    A Chinese national on a tourist visa was held at Delhi's Indira Gandhi International Airport (IGIA) on Sunday while he was trying to smuggle in sandalwood.


    2. https://www.scmp.com/news/asia/sout...ese-tourists-smuggling-shawls-made-endangered

    Two Chinese women were arrested in New Delhi for attempting to leave India with US$574,000 worth of the shawls, made from an endangered antelope


    3. https://timesofindia.indiatimes.com...-worth-rs-1-23-crore/articleshow/68272775.cms

    A Chinese man has been arrested by customs officials at the Delhi airport for allegedly trying to smuggle out
    anti-cancer medicine worth Rs 1.23 crore.


    4. https://www.indiatoday.in/india/sto...-tourist-arrest-up-tourism-1606381-2019-10-04

    In yet another repetition of a security violation at the Taj Mahal, a Chinese tourist was arrested by the local police for flying a drone in the Mehtab Bagh, which falls within the restricted zone of the Taj Mahal where flying of drones is not permitted..


    5. https://www.ndtv.com/india-news/chinese-group-smuggling-gold-into-india-busted-3-arrested-2128730

    The Directorate of Revenue Intelligence has arrested three people including a Chinese national believed to be one of the masterminds of a notorious syndicate involved in smuggling gold from Taiwan and Hong Kong into India and seized over 21 kg of gold worth over Rs. 7 crore,
     
  8. Bilal9

    Bilal9 ELITE MEMBER

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    Chinese know the Indian auto market and hunger for cheap goods is substantial. It will recover at some point. They have excess capacity to manufacture SKD kits which Indians can put together.

    Investment in Bangladesh and India aren't mutually exclusive. Both can/will happen.
     
  9. Goku

    Goku FULL MEMBER

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    Yeah yeah right Bangladeshis have no apetite at all for cheap goods isnt it. Nice trolling , i hope it did satify your tiny superiority complex
     
  10. Bilal9

    Bilal9 ELITE MEMBER

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    Ha ha ha :lol: - sorry I had to LOL.

    Indians and 'efficiency' don't go together in the same sentence.

    Their workers are way less efficient and productive than even workers in Bangladesh. :)

    This has been proven in the apparel industry many years ago...

    Sorry brother - kanjoosi (excessive thrifty behavior i.e. being cheap) is not a Bangladeshi trait. That belongs to Indians. Everyone in Bangladesh knows it.

    Of course we are talking about people in the same earning class.

    [​IMG]
     
  11. Goku

    Goku FULL MEMBER

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    Yeah right now go scratch your back
     
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  12. Bilal9

    Bilal9 ELITE MEMBER

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    A few examples of frugal innovation or JUGAAD in India - kudos. :-)

    Chinese investment and Indian innovation, a dynamite combo!

    [​IMG]


    [​IMG]
    Via youtube.com

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    Who needs a hair dryer when you have an iron...
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