Day: October 4, 2020

Great Wall and GM seal Thai factories sale | Automotive Industry News

Great Wall Motors (GWM) has now formally signed a share revenue and order settlement with General Motors to receive GM’s creation facilities in Rayong, Thailand.

GWM stated the transfer will make Thailand its ASEAN creation foundation for domestic and export for new power vehicles and interior-combustion motor designs and ideas to start Rayong creation in the first quarter of 2021.

GWM’s transfer to established up its creation foundation in Thailand kicked off in February this yr when the company started negotiation with GM to receive, underneath a signed binding term sheet, GM Thailand and GM Powertrain Thailand authorized entities, which incorporate the Rayong automobile assembly and powertrain facilities.

lliot Zhang, President, GWM ASEAN & Thailand, stated: “While ASEAN automotive industry is evidently on its advancement pattern, Thailand has potent fundamentals as a chief in this industry and is regarded as a single of the world’s most effective spots to set

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