Great Wall Motor: Becoming a global high-tech mobility company, sales of 4M units by 2025
2025 Strategic goals and R&D of proprietary core technologies
2021/11/17
- Summary
- 2025 Strategic Target: 80% of global sales of 4 million vehicles to be NEVs; investing CNY 100 billion for R&D over the next 5 years
- Brand structure and business development
- Independently developed core technologies: Announced many R&D results such as platforms, smart cockpits, batteries, and hydrogen technologies
- Overseas trends: Constructing a series of finished vehicle plants, promoting localization of production systems, and releasing local models
- Great Wall Motor's sales volume in China (ex-factory)
- Sales Forecast by LMC Automotive: Great Wall Motor sales are expected to exceed 1.56 million units in 2024
Summary
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Great Wall Motor Company Limited (GWM) is a major privately-owned automaker that focuses primarily on pickup trucks and SUV models. In 2020, the company sold 1,115,900 units (including exports), of which SUVs were 829,000 units, accounting for 74.29%, and pickup trucks were 228,700 units, accounting for 20.49%. Great Wall Motor’s core brand Haval has been the top seller in the Chinese SUV market for 11 consecutive years.
Sales in the first half of 2021 (including exports) were 614,389 units, ranking 8th in the Chinese auto market. Sales of passenger cars, including GWM's mainstay SUVs, were 500,044 units, ranking the company 7th in the Chinese market. The number of pickup trucks sold was 114,345, and the Great Wall brand has a 42% share, of which the "Poer" accounts for 23.4%. In the New Energy Vehicle (NEV) market, Great Wall Motor sold 53,000 units in the January-June 2021 timeframe, with a 4.6% share, ranking 5th.
GWM has reformed its organization and has newly set itself up as a new "globalized high-tech mobility company." The company integrated internal resources and invested more than CNY 20 billion in R&D over the past five years. It has already established platforms and intelligent drive technology brands such as Lemon, Tank and Smart Coffee, and has formed a technology ecosystem that fuses autonomous driving, smart cockpits, high-efficiency fuels and new energy.
With the core of smart, electrified, and autonomous driving, automotive products are diversified to meet customer needs and provide customers with more choices. Great Wall Motor announced its 2025 strategy in June 2021. According to the plan, it aims to achieve global sales of 4 million units by 2025, 80% of which will be NEVs. In addition the company will invest CNY 100 billion in R&D over the next five years, targeting sales revenue exceeding CNY 600 billion.
Related Reports:
IAA Mobility 2021: Great Wall Motor launches ORA and WEY brand NEVs in EU(Sept.2021)
Foreign investments of Chinese automakers : SAIC Motor and Great Wall Motor(June 2021)
Auto Shanghai 2021: Geely, Great Wall Motor, BYD(May 2021)
Bangkok International Motor Show 2021 (Part 1): GWM unveils its lineup of electric vehicles(Apr.2021)
Indian Auto Expo 2020: GWM and Haima announce new entry into Indian market(Feb.2020)
Great Wall Motor: Established a 4 major brand organization; reorganized parts manufacturers(Feb.2020)
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