Great Wall, in first for Chinese, plans 3.2 billion yuan assembly plant in Russia
Great Wall Motor Co., China's largest SUV maker, is expected to spend 3.2 billion yuan ($513.1 million) to build a factory in the Tula Oblast region of central Russia.
The move will make Great Wall the first Chinese automaker to run a full-scale assembly plant in Russia.
Under the agreement the company signed Tuesday with the Tula Oblast government, the plant will cover 2.2 million square meters and will build as many as 150,000 vehicles a year, Great Wall said.
The company has yet to disclose its construction timetable.
Russia is a major export market for Chinese automakers. Great Wall, Zhejiang Geely Holding Group Co., Chongqing Lifan Industry Group Co. and Chery Automobile Co. assemble vehicles in Russia from kits imported from China.
In Brazil, another major export market for Chinese automakers, Chery and Jianghuai Automobile Co. are building full-scale assembly plants.
Under the agreement the company signed Tuesday with the Tula Oblast government, the plant will cover 2.2 million square meters and will build as many as 150,000 vehicles a year, Great Wall said.
The company has yet to disclose its construction timetable.
Russia is a major export market for Chinese automakers. Great Wall, Zhejiang Geely Holding Group Co., Chongqing Lifan Industry Group Co. and Chery Automobile Co. assemble vehicles in Russia from kits imported from China.
In Brazil, another major export market for Chinese automakers, Chery and Jianghuai Automobile Co. are building full-scale assembly plants.
