China Auto Trending Hashtag| GWM to invest 3.2 billion yuan in Russia/ Beijing to promote the electrification

1. To invest 3.2 billion yuan more, GWM to become the first special investment car company in Russia

Recently, IIA learned from the Russian Satellite News Agency that Great Wall Motor will become the first car company to sign a new Russian special investment contract. It is reported that Great Wall Motor will invest 30 billion rubles (about 3.2 billion yuan) for the development of the Tula factory.

Great Wall Motor plans to build internal combustion engines and automatic transmission production plants in Russia to localize the production of chassis, interior and exterior components. It is reported that by 2023 GWM is expected to develop four new compact and small SUVs.

Great Wall Motor’s investment in Russia and local production levels are expected to meet the conditions for a new special investment contract. If the contract is successfully signed, Great Wall Motor will enjoy the corresponding policy concessions, which will help the company to further develop in the Russian market.

2. Beijing began to promote vehicle electrification and scrutinize high-emission vehicles

On July 8, at the opening ceremony of 2019 Beijing International Forum for Metropolitan Clean Air Actions, Li Xiang, director of the Atmospheric Environment Division of the Beijing Eco-environment Bureau, said that the next step would be to scrutinize high-emission vehicles and continue to promote the vehicle electrification. By the end of 2020, it is planned to realize about 400,000 new energy vehicles in Beijing.