China's Great Wall Motor's Plant Starts Running in Russia
Tang Shihua
DATE:  Jun 06 2019
/ SOURCE:  yicai

(Yicai Global) June 6 -- Chinese automaker Great Wall Motor's wholly-owned Russia plant started operations yesterday, the company said in a statement.

The firm, which is based in Baoding in China's eastern Hebei province, also signed a second-phase investment intention agreement with the local government at the Kremlin yesterday, with visiting Chinese President Xi Jinping and Russian President Vladimir Putin looking on.

The USD500 million plant in the Tulskaya Oblast, which is about 100 kilometers south of Moscow, has an annual production capacity of 150,000 sport-utility vehicles and will target the domestic and neighboring countries' markets.

Editor: Ben Armour

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Keywords:   Start Operation,New Plant,Automobile,SUV,Russia,Great Wall Motor,One Belt One Road