Great Wall begins output at $500 million Russia plant
Automotive News China
Automotive News | 2019-6-7
Great Wall Motor Co., China¡¯s largest light-truck manufacturer, launched a $500 million (3.5 billion yuan) assembly plant in Russia Wednesday after five years of construction. |
The factory makes Great Wall the first Chinese automaker to fully manufacture vehicles in Russia, and signals its global strategy has entered "a brand new phase," the company said in a statement.
The plant, located in the Tula Oblast region of central Russia, will produce up to 150,000 vehicles a year initially.
Great Wall on Wednesday also launched sales of the first locally produced vehicle, the Haval F7 crossover, in Russia. It has a starting price of 1,449,000 Russian rubles ($22,190).
Great Wall started exporting pickups and crossovers to other emerging markets in the late 1990s. It has also opened plants in Malaysia, Ecuador, Tunisia and Bulgaria to assemble vehicles with kits imported from China.
The company, based in the north China city of Baoding, is the largest crossover maker as well as the largest pickup manufacturer in China.
In the first four months of the year, Great Wall sales increased 8.7 percent to 367,680. Of that number, 19,074 vehicles were sold overseas, according to Great Wall¡¯s filings on the stock exchanges in Hong Kong and Shanghai.
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