GWM invests RMB 500 million to construct plant in Russia

Shanghai (Gasgoo)- Great Wall Motor (GWM) revealed the Haval F7 on Aug. 29 at the 2018 Moscow International Auto Show, even two days earlier than the 2018 Chengdu Motor Show. The Haval H6, H9 and HB-03 concept were also showed off at the motor show.

It is said that the Haval H7 will not only be manufactured and sold in China and Russia, but also is expected to export to South America and Europe, helping further expand GWM's overseas footprint.

Wang Shihui, general manager of international department of GWM, stated that Russia is one of GWM's largest overseas markets and also Haval's long-term strategic country. What's more, the Haval brand made its debut at the 2014 Moscow International Auto Show, and entered into the Russian market in 2015.

Currently, deliveries of GWM's Haval brand reached 1,822 units in 2017 in Russia. During the first half of 2018, Haval brand gained a YoY sales growth of 31% to 1,138 units in Russia. It is expected that GWM's sales in Russia will reach 20,000 units by 2020.

Wang Shihui added that GWM's largest overseas investment project, Haval Tula plant, will officially go operation in the first quarter of 2019. He also disclosed that GWM will invest RMB 500 million in the plant, which will achieve an annual production capacity of 150,000 units.

GWM's overseas plant will not only help the automaker cut cost, but also can provide abundant job posts in local city. As the growth of the Chinese vehicle market slows, globalization has become the core strategy of Chinese automakers which include GWM. The launch and local production of the Haval H7 signifies that Haval has entered into a new era of fast expansion in Russia and also symbolizes that GWM made a solid step of globalization.