Great Wall says to buy General Motors’ Thailand car plant

China’s Great Wall Motor stated on Monday it had signed a binding agreement to buy a car plant from General Motors in Thailand.

Great Wall stated it expects to finish transaction of Rayong car plant, which is presently operated by GM, by the end of 2020.

GM stated on Monday it was rearranging worldwide operations.

“The acquisition of GM’s Thai Rayong plant will help the business development of Great Wall Motors in Thailand and the Asean market. Great Wall Motors will expand through the entire Asean region with Thailand at the centre, and export its products to other Asean countries as well as Australia,” said Liu Xiangshang, global strategy vice president of Great Wall.

Last month, Great Wall also agreed to buy GM’s plants in India.