Chinese automobile giant SAIC Motor Corporation Ltd is entering the Indian market through a fully-owned car manufacturing facility.
SAIC said it is in the process of finalizing its manufacturing facility and is firming up its product strategy for the Indian market, details of which will be announced later.
The manufacturing operations is expected to be commenced by 2019.
“The introduction of the iconic British Sports Car Brand ‘MG’ in India is an important part of SAIC Motor’s global strategy.
MG products, that are designed and engineered at its European & Global Design Centres, will now also be assembled in India while conforming to global quality standards and aligning with the Indian regulations, emission norms and driving conditions.
SAIC Motor adopts the global standard in developing high quality products in various markets where it is located across the globe including UK, USA, Europe, Australia, New Zealand, South America, Middle East, South East Asia, Thailand and Indonesia.
Over the years, both its MG and Maxus brands have respectively emerged as one of the fastest growing brands in UK, Australia, New Zealand, Chile and Thailand.
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.
With the establishment of its fully-owned subsidiary, “MG Motor India”, the Company 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.
Prior to this, Rajeev served as global COO in Vanguard Logistics, USA and as an operating partner of ManCapital, a UK based Private equity firm.
In addition, 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 more than 18 years in global automobile companies including with General Motors India in senior positions.
SAIC Motor ranks 46th in the Fortune Global 500 list with annual revenue of more than $ 100 billion and its vision for India is to deliver environment friendly mobility solutions under the iconic “MG” (Morris Garages) brand.