The largest Chinese automaker Great Wall Motor said that its immediate plans are to stay in the Russian market. This was reported by Nikkei Asia, citing direct statements from brand executives. For example, Xu Hui, secretary of the board of Great Wall, announced that the company will remain in the country "for a while" and is considering long-term investments in Russia in the amount of more than 3 billion yuan (472 million dollars). At the same time, he warned that the war in Ukraine and Western sanctions could make "some adjustments."
He added that the demand for Great Wall vehicles is holding up despite the recent drop in sales, the ongoing conflict and a weak ruble are taking their toll on demand. However, Russia is the automaker's largest market outside of China, and its Tula plant, which went online in 2019, remains the brand's first and so far only overseas production site. In line with Beijing's refusal to condemn the Russian offensive, Chinese companies have continued to do business in the country. Recall that, according to the latest data from Finmarket, the Chinese automaker Great Wall Motors, which produces cars under the Haval brand (a subsidiary of GWM) at the Tula plant, increased its revenue from operations in Russia 2.2 times in 2021, in proportion to the growth in sales in the local market. As follows from the group's statements, its revenue in Russia was 4.973 billion yuan the last year (about $780 million). According to the analytical agency "AUTOSTAT", in 2021, the Chinese manufacturer managed to sell about 1.3 thousand Great Wall cars (Wingle and Poer models) and 36.7 thousand Haval cars (Jolion, F7, F7x, H9, H5).
Four representatives from this model range are currently produced at the Tula enterprise, according to the full cycle (stamping, welding, painting, assembly). The production capacity of the plant at this stage is 80 thousand vehicles per a year.
