China : The signing ceremony of “Great Wall Motors 300-thousand-unit Passenger Car Tianjin Project” was held in Tianjin Economic and Technique Development Zone. The Chairman of Great Wall Motors, Mr. Wei Jianjun and the President of Great Wall Motors Ms. Wang Fengying were present at the signing ceremony.

According to the agreement, Great Wall Motors will build the plant with stamping, welding, painting, assembly, test and other related matching facilities for the target annual production capacity of 300 thousand units CBU. The products will cover B class passenger cars and high-end SUVs…etc. The total investment will reach 4.2 billion Yuan. This manufacturing plant will start to be constructed in 2013, and put into production in 2015.The Chairman of Great Wall Motors, Mr. Wei Jianjun expressed, “At present, Great Wall Motors is in the period of rapid development, we must seize the opportunity and take full advantage of the cluster of Tianjin technical elites to enhance the international competitiveness so as to fulfill the strategic aim of globalization.”

The newly expanded 300-thousand-unit passenger car project will integrate with Great Wall Motors 500-thousand-unit CBU and components production base that started to be built on February, 2009, thus enabling the production capacity of the first phase of Tianjin base to reach 300 thousand units next year, and the second base to reach another 300 thousand units in 2012. By then the total production value will reach 100 billion yuan. In 2015, the CBU production capacity of Great Wall Motors’ Tianjin base will amount up to 1 to 1.2 million units with production value of 250 billion yuan. By then, plus the capacity of Baoding manufacturing base, the total production capacity of Great Wall Motors will reach 2 million with the sales volume of 1.8 million, so as to realize a big leap in development.

Source: http://www.gwm.com.cn/eng/html/news/news/100611h.htm