China-based Changan Automobile planning India entry

According to a media report, China-based Changan Automobiles is planning to enter the Indian market.

The report states that executives from the government-owned carmaker have been visiting India regularly and are said to have finalized their plans to enter the Indian market. The company reportedly intends to invest Rs. 4,000 crore in India in a phased manner. It is also said to be in the process of setting up an office in Gurgaon.

The report suggests that Changan has signed a memorandum of understanding (MoU) with the Landmark Group, which is involved in dealership and insurance businesses. The Landmark Group is expected to form a joint venture to set up a sales and service network. Manufacturing is expected to come under a separate entity.

Changan Automobiles is based out of Chongqing, China. The company offers a range of sedans, SUVs, EVs and plug-in hybrids, MPVs and commercial vehicles.

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