8.7Great Wall Motor to boost small car capacity

Great Wall Motor to boost small car capacity

 

http://autonews.gasgoo.com/auto-news/1011647/Great-Wall-Motor-to-boost-small
-car-capacity.html

 

Shanghai, August 7 (Gasgoo.com) Chinese automaker Great Wall Motor Co (2333.
HK) unveild plans to spend about 8.47 billion yuan ($1.24 bln) to expand its
production facility in North China's port city of Tianjin, reports China
Securities Journal Friday. 

 

The investment would boost Great Wall Motor's capacity at its Tianjin plant
to a 500,000 units a year. The SUV maker announced to invest 3 billion yuan
in building its Tianjin plant this February, which include projects of
annual production of 50,000 complete vehicles, annual assembly of 150,000
sets of KDs, production of 150,000 sets of auto parts and a logistics
center. 

 

Great Wall Motor spokesman Shang Yugui told the newspaper that the company
has to increase production capacity early on to meet growing demand for its
small cars, especially when the market rebound from the global economic
crisis years later. 

 

Shang said Great Wall would produce A-Class cars at the new facility, which
is to be fully completed by 2012. 

 

In a separate report, Great Wall Motor's deputy general manager, Bai Xuefei,
confirmed that the company is reconsidering the possibility of an A-share
listing but no final timeline has been set yet. 

 

Great Wall Motor, the largest Chinese sport utility vehicle (SUV) maker
without a foreign partner, unveiled a plan in October 2007 to issue up to
121.7 million A shares in Shanghai. 

 

In the first half of 2009, Great Wall Motor sold 91,000 cars in total, with
its mainland sales hiking 110% from the same period of last year. It
targeted sales of 200,000 units for ths year. 

 

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