Great Wall to realize sedan dream before August

Great Wall Motor Company Limited (GWM) will be able to get permission from the National Development and Reform Commission (NDRC) to produce compact cars before the end of August, making GWM's sedan dream to become true, said company chairman Wei Jianjun during the Shanghai International Automobile & Manufacturing Technology Exhibition. However, facing the big void for funds, Wei said Great Wall has abundant financial support and do not need to raise capital at present.

The privately-owned Great Wall Motor Co., Ltd, who was listed on Hong Kong's stock exchange in 2003, has already submitted an application to NDRC earlier in 2005 for sedan production allowance and has prepared to raise 2.8 billion Yuan in the mainland according to original expansion plans. But the company gives up the plan thanks to the sound performance of the group in Hong Kong's market.

Great Wall, based in the northern city of Baoding, has been China's largest seller of SUVs and pickups for the last eight years. In future the SUV and Sedan divisions will share their R&D equipment, manufacturing facilities as well as sales network.