Great Wall Motors Accelerates Its Expansion into the European Market, Aiming for 3% to 5% Market Share by 2030

Chinese automaker Great Wall Motors said on Thursday, July 2, that it plans to capture 3% to 5% of the European automotive market by 2030 and will launch at least 10 new models over the next two years, spanning multiple segments including compact sedans and large off-road vehicles, to drive growth in its European business.

Nicole Wu, Chief Technology Officer of Great Wall Motors, stated that Europe is a strategic market for the company, and it is accelerating product launches and localizing its operations.

Great Wall Motors was one of the first Chinese automakers to enter the European market at the beginning of this century, but its early strategy focused primarily on pure electric vehicles faced challenges in the fiercely competitive European market.

Currently, the company is re-energizing its presence in Europe, selling vehicles through local importers in countries such as the UK and Germany, and establishing subsidiaries in Italy and Spain to conduct business.

Great Wall Motors also plans to further expand its footprint in Europe, with an expected entry into the Polish market in August this year, aiming to achieve full coverage across the continent.

Ora 5 to Become Sales Leader

Great Wall Motors has already launched the Ora 5, a compact city SUV, in Europe, available in gasoline, hybrid, and fully electric versions, with a starting price of €26,950 (approximately $30,760 USD).

Nicole Wu said: "The Ora 5 will become our best-selling model in Europe."

Throughout this year, the company will sequentially introduce several new models, including the H7 off-road vehicle, Jolion Max sporty multi-purpose vehicle (SUV), Tank 300 off-roader, Wey MPV, and a large pickup truck.

In the future, Great Wall Motors will also launch hatchbacks and station wagons in Europe.

Charles Zhao, General Manager of Great Wall Motors for Southern Europe, said the company also hopes to capture around 5% of the Italian automotive market in the future.

Advancing Localization Strategy

Great Wall Motors stated that it will implement a multi-energy development strategy in Europe, with its three brands targeting different market positions. The GWM brand will focus on the mass market, Wey will target premium urban SUVs and MPVs, while the Tank brand will cater to the premium four-wheel-drive off-road vehicle segment.

Nicole Wu noted that currently all models introduced to the European market are developed for international markets, leveraging shared platforms to reduce R&D and manufacturing costs; however, the Ora 5 has already been specifically optimized for the European market.

She added that, in the long term, the company is also exploring the possibility of launching vehicles specifically designed for the European market.

Like other Chinese automakers, Great Wall Motors also plans to establish production capacity in Europe to support local sales growth, although these plans are still under evaluation.

Nicole Wu said: "Europe is a strategic market for us, and localization is imperative. We have already established a local R&D team, and we are actively researching additional localization operations and investment strategies."

Source: rfi

Original article: toutiao.com/article/1869666234152969/

Disclaimer: The views expressed in this article are those of the author.