The Times of India reports that Chinese automobile manufacturers Chery Automobile and Great Wall Motor plan on entering the Indian market:
“We are looking at a joint venture partner for India as it holds a good potential for car sales in the coming time,” Chery Automobile president Yin Tongyao said. He termed India as a “very important” market and said the company was looking at “several proposals” for finalising a local partner.
Chinese carmakers are shifting focus from their main markets like US and Europe as volumes there are shrinking due to the global slowdown. At the same time, India’s rising status as one of the fastest-growing car markets in the world, spells opportunities.
See also past CDT posts on the Indian economy.
