Great Wall Motors is definitely one of the more successful Chinese auto companies. Following the completion of the first wholly foreign-owned manufacturing factory in Russia last year, Great Wall Motors has recently entered another city. On September 29, Great Wall Motors and General Motors officially signed an equity acquisition agreement in Bangkok, Thailand. According to the agreement, GM Thailand’s luoyongfu automobile manufacturing plant and powertrain plant will be handed over to Great Wall Motors in November. As a matter of fact, as early as February this year, Great Wall Motors and General Motors signed a legally binding term sheet and started to launch the Thailand project acquisition plan. After months of negotiation and communication, the two sides reached a formal consensus in the near future. < / P > < p > according to the agreement, Great Wall Motors will upgrade the luoyongfu automobile manufacturing plant and powertrain plant intelligently, and build it into a global standard smart factory. < / P > < p > the new factory will have the production capacity and conditions of SUV and pickup truck at the same time, which can meet the production needs of various kinds of power including traditional fuel vehicles and new energy vehicles, including hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV) and pure electric vehicles (Bev), and will be equipped with new automatic production facilities, full application of intelligent technology, and maximize the use of intelligent technology Improve operational efficiency. In addition, Great Wall Motors will expand its investment in production equipment, product research and development, and staff training in Thailand and Southeast Asia. According to the plan, the new plant will be put into operation in the first quarter of 2021, with an annual capacity of 80000 vehicles. < p > < p > Liu Xiangshang, vice president of global strategy of Great Wall Motors, once said that “ASEAN is a developing automobile market, as well as a market with considerable prospects and great potential. Entering the Thai market is a key step for Great Wall Motors to enter the ASEAN market and an important measure of Great Wall Motors’ globalization strategy. ” Global Tech

By ibmwl