After India debut, Great Wall Motors signs agreement for purchase of General Motor's Thailand manufacturing facility

Great Wall Motors (GWM) expands its global footprint by signing an agreement for the purchase of General Motors' manufacturing facility in Rayong, Thailand, subject to government and regulatory approvals.

Under a signed agreement, GM Thailand and GM Powertrain Thailand legal entities, which include the Rayong vehicle assembly and powertrain facilities, will transfer to GWM. GM and GWM are targeting the end of 2020 to close the deal and hand over the site.

Parker Shi, Vice President, GWM India, said, "This agreement marks an important milestone in the overall scheme of things for Great Wall Motor in the ASEAN Region and is a testimony of our global expansion strategy that is now focussed on South East Asia including India."

Also, Great Wall Motor will benefit from the possession of GM's Thai Rayong plant, which will help foster the growth of the company and help the business development in Thailand and the ASEAN market.

Julian Blissett, Senior Vice President - Operations, GM International, said, "The company had taken the difficult decision to cease manufacturing operations in Thailand after undertaking a detailed analysis of the business case to allocate a future product program to the site. With globally-recognised efficiency and achieving key quality benchmarks, the team at Rayong has delivered world-class vehicles for domestic and export markets for two decades."

from Firstpost Tech Latest News https://ift.tt/3bLTF5r