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 up an automobile creation foundation, many thanks to its readiness in conditions of workforce and very well-formulated automotive ecosystem.
“On handover of property as a final result of the signing, this motor and automobile creation hub will be renovated and endure procedure updates to come to be a intelligent factory by GWM’s worldwide specifications for an automobile creation hub. It will boast GWM’s experience and functionality in SUV and pickup truck creation, such as highly developed powertrain systems, offering it the capability to deliver interior combustion motor (ICE) vehicles and electric vehicles these as hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). Moreover, it will be absolutely equipped with creation automation improvements and systems, these as AI, to optimize operational efficiency. GWM will also invest in creation machines and item research and advancement for Thai and Southeast Asian markets as very well as expertise advancement of the creation workforce.”
Joseph Urso, Director of Company Progress, World Mergers & Acquisitions, GM Intercontinental, commented: “GM is delighted to see that the globe-class Rayong creation facilities will proceed to participate in an important function in the advancement of the Thai and ASEAN automotive industry and the broader financial advancement of the Kingdom of Thailand”.