Great Wall Acquires Daimler AG’s Plant in Brazil

August 19,2021

Brazil, August 19th, 2021 -- On August 18th, 2021, Chinese automaker Great Wall Motor Co. and Daimler AG signed an agreement to officially acquire Iracemapolis plant, Daimler AG’s factory in Brazil.
Great Wall Acquires Daimler AG’s Plant in Brazil
 

After the acquisition officially takes effect, Brazilian Iracemapolis factory, including land, plant, machinery and equipment, will be handed over to Great Wall Motors. This transaction is a pure asset transaction and does not involve in personnel resettlement.

Meng Xiangjun, the rotating president of Great Wall Motor, said that this transaction will speed up GWM’s expansion in South America, promote the implementation of its strategy, and support GWM to develop towards a Global Smart Mobility Company.

Great Wall Acquires Daimler AG’s Plant in Brazil

In a statement confirming the move to Brazil, Liu Xiangshang, vice president of Great Wall said, “In terms of area, Brazil is not just the most populous country but it is the largest by area. Brazil's economy is the largest in South America. In terms of automobile sales, Brazil ranks seventh in the world with enormous market potentials. We consider Brazil a strategic market in the global internationalization plan. Within this plan, we are dedicated to studying the preferences of local consumers and the development and changes in the automobile market. With the investment, GWM will have the chance to produce smart, safe and high-end vehicles there and improve the ride experience of local citizens. There will also be more direct or indirect employment chances for local residents, possibility of developing local parts supplier, R&D and related industries, further promoting the transformation and upgrading of the local industrial structure, and contributing more taxes to the Brazilian government."

Based on GWM’s advanced concepts of production, quality management, environmental protection, and information management system, all in strict accordance with international standards, the new factory will serve as one of its global intelligent production bases. Its production will not only for the domestic Brazilian market but also for neighboring countries on the continent. 

As soon as the factory is handed over, which should happen by the end of this year, Great Wall will begin to adapt the facilities to its product lines, raising the production capacity up to 100 thousand units per year and generating 2000 employment opportunities for its population.

Source : www.chinatrucks.com

Editor : Daisy

Tags: Great Wall Brazil

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