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China's Great Wall seeks to double vehicle sales by 2025

Auto News - Published on Mon, 12 Mar 2018

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Reuters reported that China's Great Wall Motor Co aims to more than double its annual sales to 2 million vehicles by 2025, with roughly a third of those expected to be all-electric battery cars. The Baoding-based automaker also plans to invest CNY 20 billion on electric vehicle research and development by 2020, Great Wall Motor President Wang Fengying told a session of the National People's Congress in Beijing.

Wang's remarks come as China's industrial policymakers try to engineer a dramatic shift away from conventional gasoline cars with subsidies and strict production quotas for electric and plug-in electric hybrid vehicles.

The company "will push forward with a renewable innovation strategy and will aim to assume leading positions" in electric battery vehicle technology as well as hydrogen electric fuel-cell know-how, she said.

According to Automotive Foresight, a Shanghai-based consultancy, Great Wall Motor sold 950,315 vehicles last year, down 1.9 percent from 2016.

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Posted By : Rabi Wangkhem on Mon, 12 Mar 2018
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