GWM Expands in China and Oversea
24 July 2009
English.chinabuses.com: Great Wall Motor Co, a small but ambitious Chinese automaker, plans to more than double its number of overseas plants by the end of this decade to boost sales abroad. Wang Fengying, chief executive officer of the Hong Kong-listed maker of sports utility vehicles (SUVs) and pick-ups, said that it would have a total of 20 overseas factories by 2010. Currently it has eight. He also said "These plants will help us propel our overseas sales considerably. Great Wall aims to sell more than 200,000 vehicles abroad a year by 2010. Meanwhile, we expects to lift overall annual sales to 500,000 units from 73,580 units." Great Wall is also looking at the EU and US markets to be an international brand in real terms. Furthermore, Great Wall will launch its three latest models as imports in the EU in the first half of 2008.
Wang said Great Wall plans to spend 10 billion yuan in the years to 2010 to develop 20 new models and build new facilities to achieve its sales target. The company is awaiting government approval to produce sedans and multi-purpose vehicles. China is encouraging domestic carmakers to speed up exports through improved quality and design. Many other Chinese brands, such as Chery and Brilliance, are also building more plants in foreign countries to boost overseas sales.
Source : english.chinabuses.com
Editor : Frederick
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