SAIC Motor Corporation Ltd. on Wednesday announced its plan to enter the Indian automobile market through a fully-owned car manufacturing facility in the country.
The largest automobile giant in China, SAIC is 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.
More From This Section
MG products, that are designed and engineered at its European and Global Design Centres, will now also be manufactured in India while conforming to global quality standards and aligning with the Indian regulations, emission norms and driving conditions.
SAIC Motor adopts the global standard in developing high quality products in various markets where it is located across the globe including UK, USA, Europe, Australia, New Zealand, South America, Middle East, South East Asia, Thailand and Indonesia. SAIC Motor has also established its 'Overseas Innovation Center' in Silicon Valley, California.
Over the years, both its MG and Maxus brands have respectively emerged as one of the fastest growing brands in UK, Australia, New Zealand, Chile and Thailand.
SAIC Motor's recent launch of a breakthrough 'internet car' in collaboration with Alibaba in the 'connected car space' is a new milestone in the global automotive industry which has seen unprecedented success.
"This was possible by integrating the premium technological resources through the company's leading world-class supplier base," added the statement.
With the establishment of its fully-owned subsidiary, "MG Motor India", the company today also announced some senior level appointments. Rajeev Chaba, a veteran with over two decades of experience in the automotive sector will be the President and Managing Director of MG Motor India.
He joins MG Motor India with a wealth of global experience, proven track record and a very good local insight. Rajeev's last assignment was as global COO in Vanguard Logistics, USA and as an operating partner of ManCapital, a UK based Private equity firm. Prior to that, he had worked in world class automobile companies in senior positions at different locations including Dubai, India, Japan and China.
P. Balendran, also with a wealth of experience in the auto sector has been appointed as the Executive Director. Balendran has joined MG Motor India after spending over 18 years in global automobile companies in senior positions. Before that, he had also worked in many other organizations and renowned companies within India and abroad in various senior positions.
The company said it is delighted to have both Rajeev Chaba and Balendran join MG Motor India as its senior leadership team. Their wide and varied experience in the auto sector will lead the company to a successful future in India. The company has also started functional level appointments to further strengthen its operations going forward.
Disclaimer: No Business Standard Journalist was involved in creation of this content
