China's biggest carmaker to drive into India

Mumbai: China’s largest automaker SAIC Motor (formerly Shanghai Automotive Industry Corporation) is finalising plans to invest about $1 billion in India by 2018. It would look to manufacture products that would suit local tastes and can also be exported.  Governments of three states — Maharashtra, Andhra Pradesh and Tamil Nadu — have already made presentations to the company, with proposals of hosting its manufacturing unit.  Sources in the sector said the company was keen to finalise its plans and could make an announcement in the first or second quarter ...

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