Lear, Great Wall Motor inks strategic cooperation MOU

Beijing (Gasgoo)- China’s major automaker, Great Wall Motor, announced that it had signed a strategic cooperation memorandum of understanding with the world-leading automotive supplier, Lear.

Signing ceremony; photo credit: Great Wall Motor

The cooperation signifies Great Wall Motor’s trust and recognition of Lear’s capabilities and the hope it holds towards the future achievements lying in front of the partners.

In fact, Lear and Great Wall Motor have been in deep cooperation since 2019. The partners made substantial development in the seating and electronic/electrical system segments. 

The automaker deems the cooperation a critical move in line with its 2025 global strategy.

Earlier this year, the automaker disclosed its 2025 target of selling 4 million vehicles annually, with at least 80% being new energy vehicles, bringing in over RMB600 billion in revenue. In order to achieve the goal, Great Wall Motor plans to allocate RMB100 billion to the research and development department.

The chairman of Great Wall Motor, Wei Jianjun, said that the company would focus on developing critical new energy technologies, including battery-electric, hydrogen power, and hybrid power. Meanwhile, the third-generation semiconductor core technologies are also of great importance to the automaker, such as for example, the development of chips and SiC technologies.  

Moreover, the company set a goal of expanding its talent system globally. By 2023, Great Wall Motor intends to double its current number of research members to 30,000 people, one-third of whom will be software developers.