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China's state-owned Changan Automobile Co. Ltd. is rumoured to be considering an entry into the Indian automobile market.
Quote from LIVE MINT:
LINK:China’s Changan Auto exploring India entry - Livemint
Quote from LIVE MINT:
New Delhi: Four months after Chinese President Xi Jinping announced investments worth $20 billion in India, the country’s state-owned automobile company Changan Automobile Co. Ltd is discussing an entry into India’s passenger vehicle market, according to two people familiar with the development. Changan is China’s oldest and fourth largest automaker and has joint ventures in its local market with companies such as Suzuki Motor Corp. of Japan and Ford Motor Co. of the US. Top Changan executives met industry consultants two months ago, according two consultants who requested anonymity. “They were here in November and a marketing research firm was facilitating their meetings,” said one. “They were looking to understand the prerequisites of entering into the Indian market. Most of their questions were about India’s passenger vehicle market.” The second consultant confirmed meeting the Chinese firm, but declined to give details. Changan Automobile has six large manufacturing bases in China—in Chongqing, Beijing, Jiangsu, Hebei, Zhejiang and Jiangxi—and 15 vehicle and engine factories with an annual capacity of two million vehicles and two million engines.