Great Wall Mo­tor to open a fac­tory in Rus­sia

China Daily (Canada) - - NEWSCAPSULE -

China’s pri­vately owned Great Wall Mo­tor Co Ltd plans to in­vest 3.2 bil­lion yuan ($510 mil­lion) to build a car man­u­fac­tur­ing plant in Rus­sia, its largest ex­port des­ti­na­tion.

The fac­tory is ex­pected to pro­duce up to 150,000 ve­hi­cles a year.

Ac­cord­ing to Great Wall’s state­ment filed with the Shang­hai Stock Ex­change, the plan will be built about 200 kilo­me­ters south of Moscow.

In 2013, the com­pany’s rev­enue was 1.65 bil­lion yuan in Rus­sia, ac­count­ing for 34.39 per­cent of the to­tal over­seas rev­enue of 4.79 bil­lion yuan. But Great Wall’s to­tal ex­port of 74,900 units last year — 31,500 pick­ups, 32,400 SUVs and 11,000 cars — was 21.52 per­cent lower than in 2012. (Photo 4)

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