China's largest SUV manufacturer Great Wall Motors (GWM) on Wednesday said it will invest $1 billion in India, which is set to be among the top three auto markets globally.
The $1 billion (about Rs 7,100 crore) investment will be made in a phased manner in areas including research and development, manufacturing, and sales and marketing.
"We firmly believe that India will become one of the top three auto markets in the world in the next 3-5 years...Our aim is to establish a comprehensive ecological chain covering research, production, sales and marketing...," Hardeep Brar, Director, Marketing and Sales of the Indian subsidiary of GWM, said.
Speaking at the Auto Expo here, he said the company also intends to use manufacturing capabilities in India to export to other countries.
"We plan to invest an estimated $1 billion in a phased manner covering research, manufacturing, supply chain and marketing and sales...GWM will actively respond to the 'Make in India' strategy," he said.