Great Wall Motors, China's largest SUV maker, announced yesterday that it had finished a contract with the related department of Tatarstan, Russia. The two parts agreed to co-build a plant to assemble Great Wall SUV and Pickups, with an investment of about 100 million Yuan.
Engaging mainly in auto and auto parts manufacturing, the plant is situated at the town of Yelabuga in Tatarstan. The total investment fund of 420 million Ruble (corresponding to RMB 121.8 million) include 105 million Ruble (25 percent of the total) from the Russia partner and 315 million Ruble (75 percent of the total) from Great Wall, of which Great Wall brand accounts for 126 million Ruble (36,540,000 yuan) and Great fund in cash takes 189 million Ruble (54,809,700 yuan).
The plant is planed to start production this year with an annual output of 50,000 vehicles. According to Great Wall publicity department official Shang Yugui, the project has been successfully implemented and the plant will start assembling pickup and Hafu SUVs.
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