BAIC to tap Indian mkt with buses & trucks

Shanghai August 30 (Gasgoo.com) Increasing demand from the Indian automobile market has made the country a key place for big car manufacturers to expand business.

Beijing Automotive Industry Holding Co. (BAIC), the Chinese partner of Daimler AG, plans to start selling commercial vehicles in India as economic expansion spurs demand for trucks, Bloomberg reported.

BAIC, also partner of South Korea's Hyundai Motor, is intended to tap the Indian market through its subsidiary, Beiqi Foton Motor, one of China's major truck makers.

The Indian government aims to achieve high economic growth of 8.5% this year, which will certainly spur demand for trucks and buses. Meanwhile, India expects to invest $1 trillion in construction of other infrastructure from 2012 to 2017, according to sources.

There are plenty of opportunities in rapidly developing countries like China and India, BAIC will make every effort to adapt to the local market well, the company said, without mentioning when it will start seling trucks and buses in India.

As part of its overseas expansion, BAIC also plans to sell vehicles in Brazil, Russia, Mexico and Thailand through establishing joint ventures or car factories.