Great Wall to develop 20 new models by 2010

Shanghai. August 22 (Gasgoo.com) –Great Wall will invest RMB 10 billion ($1.33 billion) to develop new models, auto parts and four platforms for making pickup, SUV, sedan and MPV, according to Wang Fengying, general manager of Great Wall motors.

"By 2010, the overall annual output will be 500,000 units, sales revenue will reach 30 billion yuan($ 4 billion)," Wang said.

At the Shanghai Auto Show in April, the company announced its plan to build sedan this year. The company also said more than 120 franchised dealers signed contracts with the company.

"The number of our car dealers will reach 200," said Wei Jianjun, president of Great Wall Motors.

The company has set up a new auto making plant with an investment of RMB 2.8 billion ($ 0.37 billion) and a new R&D center, a new testing center and a trial production center.

In the sedan model, the company will develop models including A to C segment, and these models will no longer use Great Wall logo and choose a new one.

The company's total sedan output will reach 1 million units in the next four years, Chinese media reported.