China cancels One billion-dollar investment in India

China’s automobile manufacturer Great Wall Motor (GWM) withdrew One billion-dollar investment in India and fired all its employees in India. The GWM confirm that they are exiting the Indian Automobile market for now.

GWM wants to buy the Pune manufacturing plant from General Motors for one billion dollars. Since the Galwan Valley clashes between Chinese and Indian troops in June 2020, India has stopped Chinese investment, and thousands of Chinese apps have been banned in India for security reasons.

In the case of the General Motor and Great Wall Motor Central government was directly involved, and the Central Home Minister did not approve the project for a long time because for various reasons that’s why the company decided to leave India.

GWM has now set its eyes on Brazil, where it recently bought a manufacturing plant and pledged to invest Two billion dollars. GWM will continue to pay attention to and study the Indian automobile market.

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