Core Viewpoint - Great Wall Motor (GWM) is planning to establish its first car manufacturing plant in Europe, aiming to produce 300,000 vehicles annually by 2029, in response to declining sales in the region [1][2]. Group 1: Manufacturing Plans - GWM is evaluating several potential locations for the new facility, including Spain and Hungary [1][2]. - The company has not provided a formal update on its European manufacturing plans since 2023 [2]. - Labour and logistics costs are significant factors in determining the site for the new plant, as components will initially be transported to Europe for assembly [2][3]. Group 2: Market Context - Chinese vehicle manufacturers, including GWM, are expanding internationally due to intense price competition in the domestic market caused by excess capacity [4]. - GWM faces challenges in Europe, including higher import duties on electric vehicles and competition from established global brands and other Chinese manufacturers like BYD [4][5]. Group 3: Future Goals - GWM aims to sell one million vehicles annually outside China by 2030 [5]. - The new European factory will produce a range of vehicles, including internal combustion engine models and fully electric cars [6]. - GWM is preparing to launch new products, such as a multi-powertrain version of the Ora 5 compact SUV, expected to be introduced in mid-2026 [6].