China’s Changan Car Company plans to enter India within the next economic yr, suggested ET Now. This could be the primary investment by means of a Chinese language automobile maker in India. The file comes as growth inside the world’s largest auto market nears stagnation and fee opposition intensifies.
In April its President Zhu Huarong said that China’s indigenous automakers lack pricing energy and lag installed worldwide manufacturers in foremost marketplace segments which include sedans.
A Related Press file said that sales of SUVs, the popular choice on China’s hard roads, soared 52% closing year, the handiest product section that still is developing inside the international’s largest marketplace. Sedan sales shriveled with the aid of 5.three% and those of minivans plunged 17.five%.
Changan Vehicle Corporation, China’s fourth-largest automaker by sales volume, has a joint mission in China with Ford Motor, Suzuki and PSA Peugeot Citroen.
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In November 2015, the Chongqing primarily based automaker introduced that it would make investments 30 billion yuan ($4.7 billion) in research and development (R&D) over the following 5 years.
The Chinese language automaker specialises in no-frills cars, sedans and SUVs. Some of its popular models are Alsvin, Benni, CX20, CS35 and CS75. It will likely be intresting to peer which fashions Changan will release in India.
The Organization claims it has 6000 income and provider facilities in extra than 60 countries.
(With inputs from Companies)