PR91221

BAODING, China, Aug. 19, 2021 /PRNewswire=KYODO JBN/ --

On August 18, GWM and Daimler AG signed an agreement on the acquisition of

Daimler's factory in Iracemapolis, Brazil under the witness of GWM Rotating

President Meng Xiangjun in Sao Paulo.

The said agreement stipulates the transfer of the ownership of the Iracemapolis

factory's land, buildings, machinery and any other properties except for

personnel to GWM. And it is expected to be done by the end of 2021. After

taking over the factory, GWM will introduce advanced production, quality

control, environmental protection and information management concepts that are

in line with its global manufacturing standards, so as to build the factory

into a smart production base catering to the demands of Brazil and other South

American countries. At the same time, the factory will create nearly 2,000 jobs

there, drive the development of local industries engaged in supporting, R&D and

other services, promote the further transformation and upgrading of the local

industrial mix, and contribute more profits and taxes to the Brazilian

government.

In fact, South America has served as one of the important strategic markets of

GWM, which started to deploy in Chile as early as 2007, and has achieved

remarkable results. The first PICKUP and HAVAL SUV models sold were popular

among local users, which reinforced GWM's determination to further venture into

the South American market. Brazil tops all South American countries in terms of

economic strength, land area and population, and serves as one of the seven

largest automotive markets in the world, with immense potential for automobile

consumption. In addition, GWM has taken Brazil as an important strategic market

for enhancing its presence in South America, and it is committed to studying

the preference of local consumers and changes in the automotive market. In this

case, after acquiring the Iracemapolis factory, GWM will leverage the

geographical advantages to advance its development and the implementation of

its strategies in the South American market, benefiting local users with

intelligent, safe and high-end travel experience.

Nowadays, GWM's sales have been increasing amid COVID-19, which continues to

hit international automotive markets. In the first seven months of 2021, GWM's

international sales rose by 176.2% year-on-year, which enhanced its confidence

in globalization. The Iracemapolis factory, as an important base for exploring

the South American market, further demonstrates GWM's strategic ability to seek

progress in adversity. In the future, GWM's "global layout" is taking shape,

with factories to cover China, Russia, Thailand, India, Brazil and other

strategic markets and uniting the 500 sales networks worldwide. This will help

to further expand GWM's global presence, contribute to its ambitious goal of

selling 4 million vehicles globally by 2025, and enhance its confidence and

strength to "win the Chinese market and venture into the world".

SOURCE: GWM

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