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China’s Great Wall announces it will invest $1.9 billion in Brazil over the next decade

Great Wall plans to launch 10 new electrified products within three years in Brazil, four of which will be pure electric vehicles and six hybrids.



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Great Wall will launch its first electrical product in Brazil in the fourth quarter of 2022

China’s Great Wall Motor said on Friday it would invest 11.5 billion yuan ($1.81 billion) over the next decade to build electric vehicles in Brazil, where it took over a factory from Daimler AG .

Baoding-based Great Wall, China’s top pickup maker, said it plans to launch 10 new electrified products within three years in Brazil, four of which will be pure electric vehicles and six hybrids. He added that he would introduce the first product in the fourth quarter of this year, he added.

The vehicles will be built at its new plant in the city of Iracemapolis, Sao Paulo state, which it officially took over on Thursday.

Read also : Great Wall Motor to shift some Indian investments to Brazil after approval delays: report

Great Wall said it would commission the plant in the second half of next year and expected it to produce 100,000 units a year and create 2,000 local jobs.

Daimler sold the former Mercedes Benz factory in Great Wall for an undisclosed sum last August in a deal that marked the Chinese automaker’s arrival in Latin America’s biggest economy.

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Global sales are key for Great Wall, which sold 1.28 million vehicles last year and aims to deliver four million cars a year by 2025.

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