China's SAIC to drive into space created by GM's exit from India

SAIC to tie up with Morris Garages to set up dedicated manufacturing unit in India, rollout by 2019

Chinese state-owned automotive design and manufacturing company SAIC Motor Corporation Ltd is all set to enter India in partnership with Morris Garages (MG), an iconic British brand that it had acquired in 2008. This announcement comes at a time when US car maker General Motors, a joint venture partner of SAIC in China, has decided to exit India.

Valued at $100 billion, the auto behemoth is slated to become the world's third largest by 2020. SAIC is bullish on the Indian automobile market and would have a dedicated manufacturing facility in the country. Operations are likely to commence in 2019