As the factory to the world, China helps the average Indian consumer fill her shopping cart. Yet, the Made-in-China label often causes the nose to wrinkle when the product is weighed on the fulcrum of durability. Therefore, it might come as a surprise to auto buyers in India that vital components in their cars and bikes – the most durable and expensive consumer products sold – have their origins in our giant northern neighbor that more sells more automobiles than the US. And the range extends from the spartan to the sublime.
In part the source has its origins in global mergers and acquisitions. According to the most recent agreement, Li Shufu, president of the Chinese automaker: “Geely”, Chinese multinational automotive manufacturing company based in Hangzhou, Zheijang, acquired a 9.69% stake in Daimler, the largest German car with strong presence in India.
Daimler’s Mercedes Benz India is the country’s largest luxury car brand, while Daimler India Commercial Vehicles (DICV) is also a formidable player with Bharat Benz trucks and buses. The $ 9-billion stake purchase by the Geely chairman is making him the biggest-single shareholder in the group, with a strong say in decision making.
March 24, 2018
Read more here: https://economictimes.indiatimes.com/industry/auto/news/industry/biggest-threat-to-make-in-india-chinese-capturing-indias-automotive-space/articleshow/63436140.cms?utm_source=ETnotifications&utm_medium=autopush&utm_campaign=Industry&utm_content=10PM