Latest news with #WeiHaigang
Nikkei Asia
3 days ago
- Automotive
- Nikkei Asia
Chinese carmaker GAC aims for production capacity in Brazil by 2030
SHANGHAI -- Chinese state-owned automaker Guangzhou Automobile Group (GAC) plans to establish supply chains to produce vehicles in Brazil by 2030 as part of a push to expand sales there. GAC recently unveiled five models at an event in Sao Paulo, including the Aion V and Hyptec HT electric sport utility vehicles. The automaker aims to integrate into Brazil and contribute to the country, GAC International President Wei Haigang said.
TimesLIVE
26-05-2025
- Automotive
- TimesLIVE
GAC begins car sales in Brazil, eyes local plant by late 2026
Chinese carmaker GAC announced its product launch in Brazil on Friday, saying it expects its line of hybrid and electric cars to garner market acceptance that would allow it to start building a factory in the country in late 2026. GAC's move comes at a time of growing competition in the world's sixth-largest automotive market, where sales of electric vehicles have been speeding up and other Chinese companies, such as BYD, Chery and GWM, have also made inroads in recent years. The company, which last year announced plans to invest 6-billion reais (R18,876,533,000) in Brazil over five years, will launch in the country on Saturday selling four imported electric cars and a hybrid model. It expects sales to reach 100,000 units in the next five years, according to GAC International president Wei Haigang. "Brazil is a huge country and very important to us," he said in an interview in Chinese through a Portuguese interpreter, adding the carmaker had a "long-term" strategy for the South American country. Electrified vehicles represent the fastest-growing segment in the Brazilian market, with sales jumping 37.4% year-on-year in the first four months of 2025 to 70,450 units, whereas sales of light vehicles in general rose 3.4% to 714,800 units, according to local group Fenabrave. "We are aware Brazil is an increasingly competitive market," Wei said. He said "external influences" such as the trade war between China and the US triggered by President Donald Trump's trade policies and sweeping tariffs did not weigh on GAC's plans in Brazil. "We developed our strategy with the bilateral relationship between Brazil and China in mind."
Reuters
23-05-2025
- Automotive
- Reuters
China's GAC starts auto sales in Brazil, eyes local plant by late 2026
SAO PAULO, May 23 (Reuters) - Chinese automaker GAC ( opens new tab announced on Friday its product launch in Brazil, saying it expects its line of hybrid and electric cars to garner market acceptance that would allow it to start building a factory in the country in late 2026. GAC's move comes at a time of growing competition in the world's sixth-largest automotive market, where sales of electric vehicles have been speeding up and other Chinese companies - such as BYD ( opens new tab, Chery and GWM ( opens new tab - have also made inroads in recent years. The company, which last year had already announced plans to invest 6 billion reais ($1.06 billion) in Brazil over five years, will launch in the country on Saturday selling four imported electric cars and a hybrid model. It expects sales to reach 100,000 units in the next five years, according to GAC International President Wei Haigang. "Brazil is a huge country and very important to us," he said in an interview in Chinese through a Portuguese interpreter, adding that the automaker had a "long-term" strategy for the South American country. Electrified vehicles represent the fastest-growing segment in the Brazilian market, with sales having jumped 37.4% year-on-year in the first four months of 2025 to 70,450 units, whereas sales of light vehicles in general rose 3.4% to 714,800 units, according to local group Fenabrave. "We are aware that Brazil is an increasingly competitive market," Wei said. He noted that "external influences" such as the trade war between China and the United States triggered by U.S. President Donald Trump's trade policies and sweeping tariffs did not weigh on GAC's plans in Brazil. "We developed our strategy with the bilateral relationship between Brazil and China in mind." Wei said that GAC was advancing in discussions with local partners and expects to be able to set up a factory in Brazil in the fourth quarter of 2026. ($1 = 5.6545 reais)
Daily News Egypt
21-05-2025
- Automotive
- Daily News Egypt
Jameel Motors and GAC to Sign MOU to Launch KD Vehicle Assembly Operations in Egypt together with a Local Assembler and Component Suppliers
Jameel Motors, a leading provider of mobility solutions and partner of choice to top automotive brands, and GAC, one of China's largest automakers that is globally recognized for safety, quality, innovation, and sustainability, have signed a Memorandum of Understanding (the ' MoU') to launch a Knocked Down (KD) operation in Egypt, subject to completion of all related regulatory approvals. Under the terms of the MoU, Jameel Motors and GAC will collaborate with a local assembler and component suppliers, to assemble GAC vehicles in Egypt. Egypt's automotive market, which has a large potential, represents a long-term opportunity for both Jameel Motors and GAC. Through this collaboration, the businesses aim to combine Jameel Motors' operational excellence and local expertise with GAC's advanced technological know-how. The focus will be on assembling one GAC model first, with the goal to expand the assembly operation long-term and build up a competitive line-up of advanced vehicles. This MoU reflects both businesses' long-term commitment to the Egyptian market and its socio-economic growth, including through job creation, technical upskilling and planned training programs for Egyptian youth, and supports Egypt's Vision 2030 goals. Jasmmine Wong, CEO of Jameel Motors, said, 'This MoU is a significant milestone – both for Jameel Motors and for our ongoing collaboration with GAC. We have been committed to the Egyptian market for almost two decades and it is an honor to now deepen our commitment with the planned KD operation.' Wei Haigang, the General Manager of GAC INTERNATIONAL, said,' This signing marks a new stage in the cooperation between both parties and will undoubtedly bring higher-quality products and more attentive services to the Egyptian market and its users. It also lays a solid foundation for both sides to better integrate into the local community, serve the local market, and contribute to local development.' The collaboration on KD businesses will start with establishing a JV Company with an expectation that the assembly operation to start in H2 2026, subject to completion of all related regulatory approvals. The KD operation will complement Jameel Motors' current business in Egypt, including as exclusive distributor of GAC and through Jameel Motors, offering comprehensive sales and after-sales services. GAC is one of China's largest car manufacturers, ranking as number 181 in the Fortune Global 500 and having gained international recognition for its high-quality vehicles, advanced technological solutions, and commitment to sustainability. GAC is setting new standards in mobility through advanced technology combined with exceptional design and high-quality craftsmanship. Today, GAC INTERNATIONAL has a market presence in a total of 76 countries and regions worldwide. Jameel Motors is building on 70 years of automotive excellence and represents some of the world's most recognized commercial and passenger vehicle brands, with operations in more than 10 countries across the Middle East, Africa, Europe, Asia and Australia.
