Great Wall Motor plans to stay in Russia with additional investment

Great Wall Motor plans to stay in Russia with additional investment


 

Autostat.- The Chinese carmaker Great Wall Motor said that the company has no urgent plans to exit from the Russian market. This was reported by the Nikkei Asia edition, citing direct statements from company executives.

The secretary of the board of the company Xu Hui has announced that the company will remain in Russia “for a while” and long-term investments in the country in the amount of more than 3 billion yuan (472 million dollars) are still planned. However, he mentioned that the conflict in Ukraine and Western sanctions could force the company to make some adjustments. He added that there is still demand for Great Wall vehicles in Russia.

Russia is the automaker’s largest market outside of China, and its Tula plant, which went online in 2019, remains its first and so far only overseas production site.