Great Wall Motor to start new auto program in Zhejiang Province

Shanghai (Gasgoo)- On February 23, Great Wall Holdings Group signed an agreement with Pinghu Municipal Government to build a complete vehicle base, a R&D center and a mobility service operator at National Level Pinghu Economic-technological Development Zone, Zhejiang Province.

According to local media outlets, the newly-inked program involves a total investment of RMB11 billion and cover an area of 1,200 mu (800,000 square meters). The complete vehicle base, which is to start operation in 2021, is designed to manufacture new energy vehicles and fuel burning vehicles with a maximum annual capacity of 180,000 units.

The R&D center will be Great Wall Motor's R&D base at the Yangtze River Delta and plans to pour more than RMB 1billion in the construction of such R&D modules as styling, core auto parts, autonomous driving & intelligent connectivity.

As to the mobility service project, Great Wall Motor will develop hourly car rental business, ride-hailing and long-/short-term car leasing businesses with Pinghu as the headquarters and starter of the Yangtze River Delta region.

Just three days ago, Great Wall Holdings Group and Taizhou government of Jiangsu Province reached an agreement for a new complete vehicle program. Besides, they also planned some supporting businesses like automobile finance, automobile insurance and car-sharing service for the new base to build a complete automotive industry chain there.