Guan Cha Zhe Wang·2025-11-26 10:29Core Viewpoint - Great Wall Motors is planning to establish its first automotive factory in Europe, aiming for an annual production capacity of 300,000 vehicles by 2029 [1][3]. Group 1: Expansion Plans - Great Wall Motors is actively seeking locations for its European factory, with Spain and Hungary as potential sites [1]. - The company has set a target to sell 1 million vehicles overseas by 2030, necessitating an accelerated expansion into the European market [3]. Group 2: Market Considerations - Labor and logistics costs are key factors in the site selection process for the new factory, as initial operations will require transporting components to the target market for assembly [1]. - The company is closely monitoring EU industrial policies, particularly changes in the investment environment and tariffs, to ensure the long-term viability of its investment in Europe [3]. Group 3: Current Operations and Challenges - Great Wall Motors currently operates overseas factories in Russia, Thailand, and Brazil [3]. - Despite a record overseas sales projection of 453,000 vehicles in 2024, the registration of its new energy brand Ora in Europe has seen a significant decline of 41%, with only 3,706 new registrations [3].