Chinese Carmaker SAIC Motor's India Plant Logs 31,000 Orders in Three Months
Liao Shumin
DATE:  Oct 18 2019
/ SOURCE:  yicai
Chinese Carmaker SAIC Motor's India Plant Logs 31,000 Orders in Three Months Chinese Carmaker SAIC Motor's India Plant Logs 31,000 Orders in Three Months

(Yicai Global) Oct. 17 -- Chinese vehicle maker SAIC Motor's factory in India, which got up and running in April, had obtained 31, 000 purchase orders by the end of last month, the Shanghai-based firm said today.

The company debuted its first marque, the MG Hector, in the local market on June 27. This model, equipped with SAIC's independently-developed 'i-Smart' intelligent driving system, has become India's pioneer interconnected car. The firm's local factory had already taken 31,000 purchase orders as of Sept. 29, three months after this product hit the market, and it has thus far delivered 7,000 new vehicles.

The Shanghai-based company spent about CNY3.3 billion (USD463.3 million) and set up the car plant and supporting industrial park for suppliers at the start of 2017 by acquiring and revamping an existing facility in Vadodara in India's westernmost state of Gujarat, lured by the huge potential of the Indian market, in which it was the first Chinese carmaker to invest. The compound was formerly owned by US auto maker General Motors' local branch.

The factory, with an area of 700,000 square meters and planned annual production of 56,000 cars, is SAIC's third such overseas complex after its plants in Thailand and Indonesia.

The Indian government is promoting the growth of new energy vehicles, a staffer at SAIC's Indian branch noted, adding the Chinese vehicle manufacturer plans to launch its proprietary NEV brand the MG EZS in the Indian market by year's end.

Editor: Ben Armour

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Keywords:   SAIC Motor Group, India