According to Xinhua, Great Wall Motor recently saw its Hover CUV model rolling out of its assembly plant in Vietnam and going to the local market.
Located in Nam Dinh City, the plant is jointly established earlier this year by Vietnamese company Duc Phong and Great Wall Motor to produces Hover and Cowry (an MPV model of Great Wall) for sale in the local market.
Duc Phong takes charge of production and marketing of the joint venture while Great Wall Motor mainly provides technologies and auto parts. The plant has an annual capacity of 3,000 cars.
Duc Phong is the second assembly plant Great Wall Motor operates in Vietnam and it has 44 sales outlets around the country bordering southwestern China.
Since it stepped in Vietnam in 2005, Great Wall Motor has spent four years in market development and now holds a considerable market share there.
The Great Wall Motor Company is the first privately owned auto company of China listed on the Hong Kong stock market and has obtained HK$1.7 billion of financial investment. After more than 10 years of rapid growth, GWM has accumulated enormous economic capacity, becoming the number one taxpayer consecutively for three years in the City of Baoding. It is among “the Top 500 Enterprises of China in 2004″ and one of the best brands in national automobile industry. GWM took its first step to become a truly global company by exporting CUVs to the competitive European market in September 2006. GWM already sells cars in about 60 (mostly developing) countries and exports account for about a third of the company’s sales.
source: XinhuaTags: Great Wall Hover CUV, Great Wall Motor, GWM Hover CUV, Vietnam