Great Wall Motor invests $753 mln in new technical center

Great Wall Motor is investing 5 billion yuan ($752.84 million) in an auto industrial park to build it into a world-class technical center, according to an insider from the Chinese auto company.

The new center, which is expected to be finished by 2012, will cover 250,000 square meters and hold 5,000 employees.

First built in 1998, the automaker's technological center has had great achievements on innovation and development, and has mastered the technique of producing SUVs, pick-ups.

Wei Jianjun, chairman of the firm said the number of technicians in the company will increase to 10,000 in the next five years. He also revealed the goals of the next five years to the public: To become No.1 in SUV and pickup seller in China; to produce cars of the best quality; to increase the production of Tianjin and Baoding branch factories to 1.5 million; to manufacture 2 million and sell 1.8 million vehicles by 2012.