Great Wall Motor expects China’s total auto sales in the second half this year to get back to the same level as last year, its president said, China shows recovery in auto market from a coronavirus-driven low.
Facing a sales slump and fierce competition, the country’s top pickup truck maker “will pursue reasonable sales and higher market share, in order to better guarantee the profitability and brand image”, said Wang Fengying, president of Great Wall.
Great Wall will present electric models as well as gasoline-electric hybrid and plug-in hybrid models, Wang stated, adding the Baoding-based company prepares to start selling hydrogen fuel-cell passenger cars in 2023.
The company, which has invested 17.5 billion yuan ($2.46 billion) on technology research and development during the last five years, will invest 30 billion yuan ($4.21 billion) on electrification, intelligent vehicles, mobility technologies in coming years, Wang stated. She did not provide details of the investments.
Saying that the country’s auto production and sales will enter a low-speed growth stage, Wang prompted the government to support the country’s automakers’ overseas expansion.
Great Wall agreed to purchase two plants in India and Thailand from General Motors previously this year. It plans to sell more pickup truck models in ASEAN countries, including Australia, South Africa and in South America.
To better manage the supply chain, the automaker, which is building a plant with BMW, will localize production of more “core car parts”, she stated, without elaboration.
