Great Wall to invest $1.8 billion in Brazil over next decade

Great Wall Motor will invest 11.5 billion yuan ($1.81 billion) over the next decade in building electric vehicles in Brazil where it has acquired a factory from Daimler AG.

The Chinese automaker said it is prepared to launch 10 new electrified products in under three years in Brazil, four of which will be wholly electric vehicles and six hybrid. The automaker added that it would introduce the first product in the fourth quarter of 2022.

The vehicles will be constructed from its new factory in the city of Iracemapolis in Sao Paulo, which it officially took over last Thursday.

The automaker said it would put the plant into operation in the second half of 2023, and that it expected it to produce 100,000 units annually and create 2,000 local jobs.

Daimler sold the former Mercedes Benz factory to Great Wall for an undisclosed amount during the last August in a deal that marked Geely’s arrival in the country.