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Chinese Auto Major Chery Looks To Enter Indian Market In A Joint Venture With Tata Motors
The Tata Motors logo (SAJJAD HUSSAIN/AFP/Getty Images)
Chinese auto manufacturing company, Chery Automobile Co Ltd is expected to enter Indian markets in a joint venture with Tata Motors Ltd. The Chinese state-owned motors which already has an equal joint venture in China with Tata Motor’s Jaguar Rover Unit is looking for an entry into the Indian auto industry, the world’s fastest-growing major auto market, reports Livemint.
Chery which is one of the top automakers in China is one of the many major auto companies which are looking to enter India as the Chinese market is expected to slow down in the coming years. It is projected that the Indian market is the only market that is expected to grow in the long run significantly.
A source closer to the development said “Senior management of Tata Motors was in China this year and they visited the facilities of Chery. A return visit by Chery’s senior executives to India is also on the cards in the next few months”.
The joint venture can be seen as a move to understand and learn the Indian psyche associating with an Indian partner who has local access and help the Chinese manufacturer understand the market.
Many Chinese companies have already started their operations in India in the recent past, China’s SAIC Motor Corp. Ltd-owned British brand MG Motor is expected to launch its first product in few months, Great Wall Motors is setting up independent operations in India while the State-run Changan Automobile Co. is also exploring opportunities in India.
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