SHIJIAZHUANG, Aug. 23 (Xinhua) -- Great Wall Motors, China's leading sport utility vehicle (SUV) and pickup manufacturer, has signed an agreement with Daimler AG on the acquisition of the German carmaker's plant in Brazil.
According to the agreement, the Iracemapolis plant in Brazil will be handed over to Great Wall Motors by the end of this year.
Great Wall Motors said it would transform the plant to enable an annual production capacity of 100,000 vehicles and create nearly 2,000 jobs.
The Hebei-based automaker has accelerated its overseas layout in recent years. Apart from Brazil, the Great Wall Motors Tula plant in Russia was completed and put into operation in 2019. The company also acquired two GM plants in India and Thailand in 2020.
Meng Xiangjun, rotating president of Great Wall Motors, said the acquisition of the plant in Brazil will accelerate its presence in the South American market and further build the company into a global technology mobility company.
Headquartered in the city of Baoding, north China's Hebei Province, Great Wall Motors owns several SUV and car brands including Haval, Great Wall, WEY and ORA. Enditem
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