Great Wall Motor adds motorcycle manufacturing, sales into business scope
Shanghai (Gasgoo)- Great Wall Motor Company Limited (GWM), Chinese biggest SUV and pickup manufacturer, saw its registered capital rise 0.65% to about 9.236 billion yuan ($1.435 billion) on October 12, according to the enterprise information inquiry platform Tianyancha.
In the meantime, the manufacturing, sales, and maintenance of motorcycles were newly included into GWM's business scope.
Photo credit: Loncin Motor
It is reported last month that GWM was in talk with Loncin Motor Co.,Ltd. to acquire the latter's motorcycle business.
Loncin Motor is a China-based company engaging in two-wheeled motorcycles and various machineries such as agricultural machinery equipment and light-duty power units. It not only offers motorcycle contract manufacturing services to BMW, but also is one of main motorcycle exporters in China.
A source with relevant knowledge said Loncin Motor planned to delay the market launch of its all-new products and make significant adjustments to dealerships for a smooth acquisition.
The rumor has not been officially confirmed yet.
Another recent move about GWM's offensive in motorcycle business is the foundation of Great Wall Soul Technology Co.,Ltd. in August. Involving a registered capital of 50 million yuan ($7.77 million), the new company is wholly owned by GWM. It records a business scope covering the R&D, manufacturing, sales, and maintenance of motorcycles and relevant auto parts.
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