Automaker eyes Russia, Iran markets
GAC Motor, a division of the Hong Kong- and Shanghailisted Guangzhou Automobile Group Co, plans to build carassembling facilities overseas to meet the increased demand for Chinese homegrown vehicles, a senior company executive said.
“We are conducting research on the sites of the overseas factories in Russia and Iran, to prepare for booming demand for Chinese vehicles,” said Wu Song, general manager of GAC Motor.
Overseas sales of its cars, under the Trumpchi brand, grew 38 percent year-on-year in 2015, with the name becoming especially well known in the Middle East, according to a company source. In the first two months of this year, GAC Motor sold about 55,000 Trumpchi-branded cars, four times the number in the same period in 2015, according to the company source.