SAIC Motor Corporation Limited, one of the biggest corporations in the world and the largest automobile giant in China, has announced its plan to enter the Indian automobile market through a fully-owned car manufacturing facility in the country.
Ranked 46th in the Fortune Global 500 list, with an annual revenue of over USD 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.
The operations, which are expected to commence in 2019, 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 finalizing its manufacturing facility and is firming up its product strategy for the Indian market, details of which will be announced at a later stage.
SAIC Motor's vision for India is to deliver environment friendly mobility solutions under the iconic "MG" (Morris Garages) brand. As a new-age auto company focused on innovation and technology, the company offers various solutions and technological capabilities required in the development of ‘New Energy Vehicles', to cater to the changing needs of global customers and the overall ecosystem.
"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.
MG products, that are designed and engineered at its European & Global Design Centers, will now also be manufactured in India while conforming to global quality standards and aligning with the Indian regulations, emission norms and driving conditions.
(Continued on the next page)
