According to the binding terms and conditions signed by both parties, Great Wall Motor has obtained Luo Yongfu Automobile Factory and Powertrain Factory, and both parties plan to complete the transaction and final handover before the end of 2020. Now it is waiting for the approval of the government and regulatory agencies.
After the delivery of the two factories, Great Wall Motor will have three overseas factories, namely Tula in Russia, Taligang in India and Luo Yong in Thailand, to make efforts in overseas markets.
Great Wall Motor acquired GM's two factories in South Asia. In addition to Thailand, it also has a complete automobile industry chain and has always been the main manufacturing center of Southeast Asian automobile market. And almost all Japanese car brands have set up factories in Thailand. Southeast Asia also has a great demand for pickup trucks, and wants to export Great Wall Motor products to ASEAN countries and Australia with Thailand's domestic market as a springboard.
If you want to take over two overseas factories within 3 1 day, you must not only have enough cash reserves, but also meet interested sellers. In the global economic situation is not optimistic, GM has adopted a slimming strategy and quickly sold or closed some regional factories with poor profitability. Before the acquisition of the Thai factory, Great Wall Motor had been leased for several years and could support the factory by sales.
More interestingly, there are many Japanese automobile factories around the Luo Yong factory in Thailand, which can be said to be "encircled" by Japanese brands. After Great Wall Motor took over, I don't know what method it will use to break through.
Car Appreciation Comments: In the eyes of many riders, Great Wall Motor gives the impression that it is rough in workmanship and grabs the market by price. Compared with some powerful brands in recent years, this is indeed the case. However, Great Wall Motor managed to survive by quantity and sought to develop outward.
Compared with GM, which is slimming down, perhaps we all hope that Great Wall Motor can seize the international low-end market with the advantage of low quality and low price (no derogatory meaning here). After all, we all hope to see the day when national brands can stand side by side with traditional strongmen.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.