Great Wall Motor Targets Significant Growth in Europe With New Models by 2030
Great Wall Motor’s European Expansion Strategy
By Giulio Piovaccari
VERONA, Italy, July 2 (Reuters) - Chinese automaker Great Wall Motor is aiming for a market share of 3% to 5% in Europe by 2030, betting on the roll-out of at least 10 models in two years, from compact cars to large off-road vehicles, the group's Chief Technology Officer Nicole Wu said on Thursday.
GWM was among the first Chinese carmakers to enter Europe early this decade, but its EV-focused strategy struggled in a highly competitive market.
It is now mounting a comeback, selling in markets including Britain and Germany through local importers while launching operations in Italy and Spain through its own subsidiaries.
The company plans further expansion, including Poland with an August date pencilled in, as it seeks to cover the whole region.
Product Lineup and Sales Strategy
Ora 5 Compact SUV: Key Sales Driver
ORA 5 COMPACT SUV TO BE HIGH SALES VOLUME MODEL
GWM has launched the Ora 5 in Europe, a compact urban SUV that will be available in petrol, hybrid and electric versions, starting from a price tag of €26,950 ($30,760).
"Ora 5 will be our best sales volume model," Wu said.
Additional Models for the European Market
Further models will follow this year, although with lower expected volumes: the H7 off-road vehicle, the Jolion Max SUV, the Tank 300 off-road model, a Wey MPV and a large pick-up truck.
Hatchback and station wagon models will also be part of the future European line-up.
GWM's Regional General Manager for Southern Europe Charles Zhao said the company also aimed for a market share of around 5% in Italy.
Brand Strategy and Localization
Three Brands on Offer
THREE BRANDS ON OFFER
The company will pursue multi-energy offerings in Europe, based on three brands, with GWM covering the volume segment, Wey for premium urban SUVs and MPVs, and Tank for high-end off-road 4-wheel-drive vehicles.
Localization and Manufacturing Plans
Wu added GWM was now only bringing "international models" to Europe, leveraging platform sharing and lower costs, although the Ora 5 has been "fine-tuned, specifically for Europe".
"In the long term, we are also studying the possibility of offering specific models for Europe," she said.
Like other Chinese automakers, GWM is aiming to establish manufacturing capacity in Europe, to support sales growth in the region, although plans are still being assessed.
"Europe is a strategic market for our company, localisation is a must-do work, we already have the local development and research teams here," Wu said.
"And yes, we are actively considering more localised activities or localised investments."
($1 = 0.8760 euros)
(Reporting by Giulio PiovaccariEditing by Keith Weir)
