New Delhi, May 9: Chinese automaker Chery Automobiles is reportedly keen on a joint venture with Tata Motors for an India entry.
State-owned Chery already has a JV with Tata Motors-owned Jaguar and Land Rover to make cars in China. The partnership was formed in 2012 and helped Jaguar Land Rover open their first assembly facility in Changshu, China in October 2014.
“The nature of the partnership—a joint venture, retail sales tie-up or technology sharing—and the time for Chery’s entry into India is yet to be finalized, Livemint reported on Thursday.
As auto sales are expected to stagnate in China in the next few years, major auto majors there are looking to expand in India as the latter is the only market projected to grow significantly in the long run. The MG Motor India, which is a wholly-owned subsidiary of China’s SAIC Motor Corp, will kick off its journey in the country with the launch of Hector SUV in June Great Wall Motors has formed a team to set up independent operations in India. State-run Changan Automobile Co. is also exploring tie-ups in India.