GREAT WALL MOTORS ELECTRIC VEHICLES (GWM)
Great Wall Motors (GWM), a top 10 automaker in China is a private company listed on the Hong Kong Stock Exchange with operations based in Baoding, Hebei Province. GWM is the largest Chinese SUV manufacturer, distributed under its Haval brand which is also represented in Europe. The Havel SUV has been the best performing SUV for 48 consecutive months in May 2017. Great Wall Motors Electric Vehicles strategy is quite ambitious and funded through a $2.7Bln (C¥16.8Bln) share placement, announced in 2015. GWM stated that it would spend around $800M on Research and Development of new energy vehicles (NEV), $600M on the development of an NEV transmission system, around $300M on electric motors and $160 on battery systems. In the same month, LG-Chem announced that it secured a 200,000 unit battery order from GWM. GWM plans to invest near $9Bln in green technology over a 10 year period and is pursuing relationships with Japanese automakers.
Although the planned entry into the NEV market sounds quite exhilarating, in reality, GWM’s approach is far more conservative as it first wants to test the market. The company’s first production EV entered the market in 2016, and it is a variant of the six-year-old C30, previously known as the Voleex C30. The company also favors plug-in electric vehicles above pure electric vehicles. In 2011 GWM explored EV production with defunct Coda Motors.
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GREAT WALL MOTORS EVs IN THE NEWS
2018 Week 10 - GWM EV Strategy update
Great Wall Motors (GWM) have been quite busy off-late preparing to make a mark in the EV sector. The company has been in the news recently as BMW’s preferred producer of the Mini EV in China, now the company looks to sell around 700,000 EVs by 2025. The privately owned GWM headquartered in Baoding plans to invest 2 billion yuan ($3.2million) by 2020 in support f its EV strategy. According to Automotive News China GWM plans to launch 3 EVs this year followed by two more in 2019.
2018 Week 9 - GWM and Mini signs agreement to develop Mini in China
Mini and Great Wall Motors of China signed a letter of intent for the production of the new Mini EV for the Chinese market. Production of the new electric Mini will commence at Mini’s main plant in Oxford in 2019. It is unclear why Mini did not partner with BMW Group’s existing partner, Brilliance Automotive, through its joint venture enterprise BMW Brilliance Automotive (BBA). In the press release, BMW Group confirmed its commitment to the BBA JV which includes two automobile production locations, an engine plant, which includes a battery factory for electrified BMW brand vehicles produced locally in Shenyang.
2017 Week 40 - GWM secures lithium supply
The Chinese automaker Great Wall Motors (GWM) acquired a 3.5% stake in Australian Lithium miner, Pilbara Minerals for $22 million in a bid to secure lithium supply for its EV strategy. To date, GWM has been one of the slower movers in the Chinese EV sector, but the purchase signals a more aggressive stance.
2017 Week 21 - GWM and Renesas team up on self-drving cars
GWM and Japanese chipmaker Renesas Electronics this week partnered to develop autonomous and EV technologies. The companies will develop jointly develop technologies at the Chinese carmakers HQ in Hebei Province. The partners will jointly develop autonomous technology, motor and battery control mechanisms for electric and hybrid vehicles, communication systems, and information and entertainment systems that make use of on-board monitors.
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China’s 2018 batch of new EV models have some surprisingly good cars threatening Western automakers still grappling how to catch-up to the increased popularity of EVs. While big auto plans to bring new models to market in 2020 China is already pushing out large amounts of new EV models.