BEIJING, Feb. 19 (Xinhua) -- Chinese automaker Great Wall Motor Company Limited (GWM) announced that it has signed an agreement with General Motors to purchase the American automaker's vehicle plant and engine assembly plant in Rayong, Thailand.The two sides plan to complete the transaction and transfer by the end of 2020, reported Xinhua-run Economic Information Daily.
The global layout of Great Wall Motors has taken shape after more than 10 years of development, stated GWM global strategy vice president Liu Xiangshang, noting that Great Wall Motors has accelerated pushing forward its global strategy through transforming and upgrading its export model in the past two years.
The acquisition of the Rayong plant in Thailand is an important step for Great Wall Motor to fully develop its globalization. Relying on the global R & D pattern and the global production layout, Great Wall Motors has established more than 500 high-quality distribution networks in more than 60 countries around the world. In 2019, Great Wall Motor's first overseas full-process vehicle plant, Tula Plant in Russia, officially started production. In the same year, Great Wall Motors topped Chinese car brands with a stunning 289 percent growth in the Russian market.
Since put into production in 2000, the GM Rayong plant in Thailand has produced nearly 1.4 million vehicles as a regional manufacturing center, with its products targeting at Thailand's domestic and export markets.
(Edited by Bao Nuomin, baonuomin@xinhua.org)
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