NEW DELHI, July 1 (Reuters) – China’s Great Wall Motor (601633.SS) has shelved plans to invest $1 billion in India and laid off all employees at its operations there after failing to obtain regulatory approvals, three sources with direct knowledge of the matter said on Friday.
The Chinese automaker has been planning to enter the Indian market since 2020 but now becomes one of the biggest casualties of New Delhi’s increased scrutiny of investments from Beijing. Continue reading “China’s Great Wall Motor shelves $1 bln India plan -sources”