Great Wall Motor Co. Ltd. (02333.HK) is gearing up for a bigger slice of the fast-growing sport utility vehicles (SUVs) market in China, while also planning to launch some environmentally-friendly cars.
The automaker aims to boost the contribution of SUVs to group sales to 90 percent in three years, compared with 71.4 percent last year, the Hong Kong Economic Journal reported Tuesday, citing the firm’s chairman Wei Jianjun.
The investment in development and production of regular passenger cars, meanwhile, will be reduced.
Great Wall sold 733,000 vehicles last year, down 4.88 percent from the 2013 level. SUV sales, however, surged 24.6 percent to 523,000 units.
The company aims to boost SUV sales further, and also plans to launch a hybrid model H7 in 2017.
BAIC Motor Corp. Ltd. (01958.HK), another major player, is looking at the same segments of SUVs and green cars.
The Beijing-based company sold 5,500 new-energy vehicles last year and is considering carrying out more related businesses.
The firm is also stepping up presence in the western and central parts of the country.
The shift came amid tightening policies on vehicle traffic and auto purchases in major cities along the coast.
This article appeared in the Hong Kong Economic Journal on March 24.
Translation by Vey Wong
[Chinese version 中文版]
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