China’s GWM to build electric cars in Brazil
New factory will significantly extend the country’s largest private car manufacturer’s global reach.
Great Wall Motors (GWM), China’s largest private automaker, is planning to open a factory for electric cars and light utility vehicles in southeastern Brazil.
GWM has been studying the Brazilian market for the past two years and is now actively looking for a state that will offer the best tax benefits, O Globo reported.
Market analysts have indicated that the investment would be a good opportunity for Rio de Janeiro, which suffers from rising unemployment.
GWM’s production and sales data for March 2021 showed car sales growing year-on-year 84.4 per cent. A total of 8,052 cars were sold overseas, a year-on-year increase of 35.5 per cent.
Since the beginning of 2021, GWM has expanded around the world, selling 2,833 new cars in Russia in March, a year-on-year growth of 77 per cent.
GWM has created a “12+5” global manufacturing system (12 full vehicle production base and 5 knock-down kit assembly). In China, following the manufacturing bases in Baoding, Xushui, Tianjin and Yongchuan in Chongqing,
In China, GWM is promoting major projects in Zhangjiagang, Shandong, Pinghu, Zhejiang and Taizhou, and globally, the company owns factories in Ecuador, Malaysia, Tunisia, Bulgaria and Russia.
GWM’s global research and development covers Europe, Asia and North America, with specific centres established in Japan, the United States, Germany, India, Austria and South Korea.
GWM showcased 22 new models at the Shanghai International Automobile Industry Exhibition this month.