Delays drive Great Wall Motor to pare India investment: Report

Automaker’s move comes after a year-long wait for government approvals after India decided to scrutinise Chinese investments more closely, Reuters said.

Great Wall Motor has decided to re-allocate to Brazil a portion of its $1bn investment in India, as the Chinese automaker has been unnerved by a year-long delay in winning government approvals, three sources told Reuters. Great Wall has also tasked James Yang, its India president since last year, with the responsibility of assisting with operations in the Latin American nation, said the sources, who have direct knowledge of the matter. The re-allocation, which could range up to $300m, comes as the sources said the maker of popular sport-utility vehicles (SUVs) and pick-ups was close to acquiring a former Daimler plant in Brazil to build cars.