Billionaire carmaker 'deal-closing saint' affirms Indian cars will overtake China

Indian car company Mahindra, owned by billionaire Anand Mahindra, recently made many people admire when it "closed the deal" with 25,000 deposits for the Mahindra Scorpio-N in 1 minute. Scorpio-N is the company's new generation mid-size SUV.

Mahindra Scorpio-N received orders for 25,000 units in 1 minute (Photo: Mahindra)

It is known that customers had to wait for a while before Scorpio-N was officially released for sale. The reason was the lack of components, affected by the global chip crisis.

However, recently at the 76th annual general meeting of the Mahindra Group, the Indian CEO affirmed that the crisis in China is an opportunity for other countries. In particular, India should quickly seize this golden opportunity.

Indian CEO Anand Mahindra wants India to overtake China in the semiconductor chip market. Photo: Business Standard

At the same time, Mr. Mahindra also stated that India can pioneer in solving the semiconductor chip shortage - the biggest concern of the global auto industry today.

“There is a possibility of supply chain restructuring. Other countries, companies will look for alternative sources of supply outside of China. This creates many opportunities for many countries,” the CEO added.

China's supply chain crisis is an opportunity for many other countries. Photo: Hindustantimes

In addition, Mr. Mahindra also reiterated the assessment of US Secretary of State Antony Blinken that “China remains a long-term challenge to the world order” and suggested joining forces with partners to oppose China’s overseas development policy. He considered China’s loss to be India’s gain.

“This is a signal for India. We can be a counterweight to China and become a new player in the supply chain market,” Mr. Mahindra asserted.