Great Wall aims to boost annual sales to 2 million crossovers, SUVs by 2020
Great Wall Motor Co., China's largest manufacturer of crossovers and SUVs, aims to sell 2 million crossovers and SUVs a year by 2020, more than doubling the company's 2016 volume.
The target was disclosed by Great Wall's founder and chairman, Wei Jianjun, at an event last week at the company's headquarters in the north China city of Baoding to celebrate the growth of the Haval brand.
Great Wall plans to launch more than 40 new and redesigned models for the Haval brand by 2020. The new models include plug-in hybrids and electric vehicles.
It will also invest 30 billion yuan ($4.4 billion) in r&d, including vehicle safety technologies, vehicle connectivity and automatic driving, over the same period, according to Wei.
Great Wall has developed its own automatic driving system, dubbed 'i-pilot'. Vehicles equipped with the system will enter mass production after 2020, he said.
In 2017, Great Wall will launch sales of the redesigned Haval H6, its top-selling compact crossover. It will also reveal the first production model, a crossover, under the new Wey brand at the Shanghai auto show in April.
Wey, created last year as Great Wall's premium brand, was named after Wei.
To focus primarily on the development of crossovers and SUVs, Great Wall will not develop new sedan models over the next four years, said Wei.
Wei didn't disclose further details about the company's product plans for the next few years.
In 2016, Great Wall's sales advanced 26 percent year on year to 1.07 million vehicles on strong volumes from crossovers and SUVs. It delivered 938,018 crossovers and SUVs in the year, an increase of 34 percent from 2015.
Last year, the company's pickup sales rose 6 percent to 105,621. Sedan deliveries shrank 43 percent to only 30,831 vehicles.
Great Wall assembles vehicles in Baoding and the north China port city of Tianjin. It is listed in Hong Kong and Shanghai.
Great Wall plans to launch more than 40 new and redesigned models for the Haval brand by 2020. The new models include plug-in hybrids and electric vehicles.
It will also invest 30 billion yuan ($4.4 billion) in r&d, including vehicle safety technologies, vehicle connectivity and automatic driving, over the same period, according to Wei.
Great Wall has developed its own automatic driving system, dubbed 'i-pilot'. Vehicles equipped with the system will enter mass production after 2020, he said.
In 2017, Great Wall will launch sales of the redesigned Haval H6, its top-selling compact crossover. It will also reveal the first production model, a crossover, under the new Wey brand at the Shanghai auto show in April.
Wey, created last year as Great Wall's premium brand, was named after Wei.
To focus primarily on the development of crossovers and SUVs, Great Wall will not develop new sedan models over the next four years, said Wei.
Wei didn't disclose further details about the company's product plans for the next few years.
In 2016, Great Wall's sales advanced 26 percent year on year to 1.07 million vehicles on strong volumes from crossovers and SUVs. It delivered 938,018 crossovers and SUVs in the year, an increase of 34 percent from 2015.
Last year, the company's pickup sales rose 6 percent to 105,621. Sedan deliveries shrank 43 percent to only 30,831 vehicles.
Great Wall assembles vehicles in Baoding and the north China port city of Tianjin. It is listed in Hong Kong and Shanghai.
