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After the Delay of the Indian Government in Approving Its Transactions, Great Wall Motors Lost Its Patience and Transferred Part of the Investment in the Country to Invest in the Brazilian Automotive Market
Great Wall Motors lost patience with the Indian government and transferred an investment of US$ 1 billion that was intended for the country to the Brazilian automotive market. The cause of the indignation is due to the fact that the government of the country has delayed for a year the approval from New Delhi for a major investment in India. The transfer of funds taken from India could reach US$ 300 million, leaving about US$ 700 million for investments in the automotive market.
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With the investment amount, the automaker’s operation in Brazil will be boosted. In India, a company source revealed that deals in Brazil are almost finalized and it makes no sense to keep resources blocked in the Asian country waiting for the government there. The investment that was to be applied in India has, in part, the mission of buying a factory that used to belong to General Motors.
Great Wall Motors employed the same strategy in Thailand. Thus, while the investment unfolds with the Indian government, the automaker is examining the Brazilian automotive market more closely.
US$ 2 Billion Suspended by the Company Due to Delay of the Indian Government
In analyzing the automotive market of other countries, pickups and SUVs are the company’s priority at the moment and in Brazil, without needing government approval to make investments, Great Wall Motors will have greater operational freedom, whether with the Mercedes-Benz factory or other facilities.
Unlike the Brazilian automotive market, the relations between China and India make investments in the Asian country even more complicated. About 150 proposals equivalent to US$ 2 billion have been canceled due to the sluggishness of the process in the hands of the Indian government. Even Tesla, which is far from being Chinese, is also not very welcome there.
Great Wall Motors May Set Up a Factory in Ceará
There are high chances that Ceará will receive the newest investment in a GWM factory, which has long been planning an entry into the Brazilian automotive market and now sees the state as a better option, in addition to the Mercedes-Benz factory in SP.
In June, the Secretary of International Relations of Ceará, Cesar Augusto Ribeiro, visited one of Great Wall Motors’ factories and took the opportunity to present the advantages of the state.
During the visit, the structure of the Export Processing Zone (ZPE) and the key benefits of Ceará for receiving foreign investments were presented. The secretary also emphasizes the importance of the factory concerning electric cars, which, for him, is one of the technologies that has a bright future in mobility.
Graduated in Journalism and Marketing, he is the author of over 20,000 articles that have reached millions of readers in Brazil and abroad. He has written for brands and media outlets such as 99, Natura, O Boticário, CPG – Click Petróleo e Gás, Agência Raccon, among others. A specialist in the Automotive Industry, Technology, Careers (employability and courses), Economy, and other topics. For contact and editorial suggestions: valdemarmedeiros4@gmail.com. We do not accept resumes!
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