China´s Great Wall Motor Company (GWM) has closed the acquisition of a factory in Brazil, which after updated will reach an annual production capacity of 100,000 vehicles.

In São Paulo, Brazil, August 18, 2021. and Daimler Group officially signed the purchase agreement on the acquisition of the Iracemápolis plant in Brazil.

According to GWM, the project will create nearly 2,000 local jobs. “The Iracemápolis plant in Brazil will be one of the global intelligent production bases to cover both Brazil domestic market and the rest of South America; The Iracemápolis plant in Brazil will accelerate the development and strategic implementation of GWM in South America”, the company said in a statement.

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Meng Xiangjun, President of GWM, stated that this transaction will further promote GWM’s transformation into a global technology company focusing on providing mobility solutions.

According to Liu Xiangshang, Vice president of GWM, “Brazil is one of the most important overseas strategic markets for GWM, and we are committed to studying local consumer preferences and the development, changes of the automobile market”.

“GWM’s investment will bring local users a smart, safe and high-end travel experience. It will also create more direct or indirect jobs for local communities, while stimulating the development of local supply chain, R&D and related industries, and promoting the further transformation and upgrading of the local industrial structure to better serve the Brazilian government by contributing more profits and taxes”, Liu said.

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After GWM acquired Iracemápolis plant in Brazil, it will be introduced advanced production, quality management, environmental protection, and digitalization management philosophy in accordance with GWM’s global manufacturing standards, according to the Chinese company.

The goal, it added, is to “build the plant into one of the global intelligent production bases to cover both Brazil domestic market and the rest of South America”.

The closing of transaction is expected to be completed before the end of 2021.