Great Wall Motors has signed an agreement with Daimler AG on the acquisition of a plant in Brazil.
According to the agreement, the Iracemapolis plant will be handed over to GWM by the end of this year.
GWM said it would transform the plant to allow an annual production capacity of 100,000 vehicles and create almost 2,000 jobs.
GWM has accelerated its overseas layout in recent times. Apart from Brazil, the GWM’s Tula plant in Russia was completed and put into operation in 2019. The automaker also bought two General Motors’ plants in India and Thailand in 2020.
Meng Xiangjun, a senior executive of Great Wall Motors, said the acquisition of the plant will accelerate its presence in the South American market and further build the automaker into a global technology mobility company.