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By APD writer Alice
Great Wall Motors (GWM) of China will take over General Motor's (GM) manufacturing facilities in Thailand and India by the end of this year, as the US automaker prepares to withdraw from some non-profitable operations in Asian Pacific region.
Under a recently signed deal, GM Thailand and GM Powertrain Thailand legal entities, including the Rayong vehicle assembly and powertrain facilities, will transfer to GWM.
The Thai deal came right after another agreement reached in January to transfer GM India's Talegaon plant to GWM.
GWM believes that the purchase of GM's Thai Rayong plant will not only boost its business in Thailand, but also speed up sales in other Southeast Asian countries, said Liu Xiangshang, GWM's global strategy vice president.
Great Wall Motors will expand through the entire ASEAN region with Thailand as the center, and export its products to other ASEAN countries as well as Australia, he added.
Earlier on February 16, GM, the largest US automaker in terms of vehicle sales, announced its decision to wind down sales, design and engineering operations in Australia and New Zealand and retire the Holden brand by 2021.
GM said the decision was made as the firm is restructuring our international operations, focusing on markets where it has the right strategies to drive robust returns, and prioritizing global investments that will drive growth in the future of mobility, especially in the areas of EVs and AVs.
2019 was a tough year for GM in Asia. The US leading automobile manufacturer lost $200 million, including $100 million the last quarter of last year alone.
GWM, headquartered in Baoding, northern China's Hebei province, is a manufacturer of SUV and pickup vehicles. With more than 1 million annual sales in the past four consecutive years, it has exported vehicles to more than 60 countries and regions at competitive prices.
If it can get final approvals from relevant governments and regulators on the purchase of the Thailand and India based auto assembly plants, the Chinese carmaker will be able to dramatically expand its overseas production.
(ASIA PACIFIC DAILY)
