Published on March 31st, 2017 | by Daniel Sherman Fernandez0
Great Wall Motor to invest USD8.6 billion in EVs, hybrids & fuel cell vehicles
Chinese car manufacturer Great Wall Motor will spend aggressively in green technologies as it works to keep up with rapid changes in consumer tastes in China. Echoing other representatives of major Chinese companies attending the National People’s Congress through Wednesday, Great Wall Motor CEO Wang Fengying stressed the need to keep innovating.
Great Wall Motor CEO Wang Fengying said that her company will bolster research and development in three pillars of new energy vehicles — electric vehicles, plug-in hybrids chargeable at home and fuel cell vehicles. We will roll out a plug-in hybrid sport utility vehicle by the end of this year. We are planning to establish the capacity to produce 600,000 new-energy vehicles a year, and we’ll make core parts as well. We will invest a total of 60 billion yuan (USD8.67 billion) over the next decade in basic technology for new energy vehicles, development of vehicles and core parts and many research and development facilities.