On August 18, GWM and Daimler AG signed an agreement on the acquisition of 
Daimler's factory in Iracemapolis, Brazil under the witness of GWM Rotating 
President Meng Xiangjun in Sao Paulo.

The said agreement stipulates the transfer of the ownership of the Iracemapolis 
factory's land, buildings, machinery and any other properties except for 
personnel to GWM. And it is expected to be done by the end of 2021. After 
taking over the factory, GWM will introduce advanced production, quality 
control, environmental protection and information management concepts that are 
in line with its global manufacturing standards, so as to build the factory 
into a smart production base catering to the demands of Brazil and other South 
American countries. At the same time, the factory will create nearly 2,000 jobs 
there, drive the development of local industries engaged in supporting, R&D and 
other services, promote the further transformation and upgrading of the local 
industrial mix, and contribute more profits and taxes to the Brazilian 
government.

In fact, South America has served as one of the important strategic markets of 
GWM, which started to deploy in Chile as early as 2007, and has achieved 
remarkable results. The first PICKUP and HAVAL SUV models sold were popular 
among local users, which reinforced GWM's determination to further venture into 
the South American market. Brazil tops all South American countries in terms of 
economic strength, land area and population, and serves as one of the seven 
largest automotive markets in the world, with immense potential for automobile 
consumption. In addition, GWM has taken Brazil as an important strategic market 
for enhancing its presence in South America, and it is committed to studying 
the preference of local consumers and changes in the automotive market. In this 
case, after acquiring the Iracemapolis factory, GWM will leverage the 
geographical advantages to advance its development and the implementation of 
its strategies in the South American market, benefiting local users with 
intelligent, safe and high-end travel experience.

Nowadays, GWM's sales have been increasing amid COVID-19, which continues to 
hit international automotive markets. In the first seven months of 2021, GWM's 
international sales rose by 176.2% year-on-year, which enhanced its confidence 
in globalization. The Iracemapolis factory, as an important base for exploring 
the South American market, further demonstrates GWM's strategic ability to seek 
progress in adversity. In the future, GWM's "global layout" is taking shape, 
with factories to cover China, Russia, Thailand, India, Brazil and other 
strategic markets and uniting the 500 sales networks worldwide. This will help 
to further expand GWM's global presence, contribute to its ambitious goal of 
selling 4 million vehicles globally by 2025, and enhance its confidence and 
strength to "win the Chinese market and venture into the world".

SOURCE: GWM


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