GWM announced that it has signed an agreement with Daimler AG to acquire the latter's factory in Iracemapolis, Brazil.
According to the agreement, Daimler will transfer the ownership of the Iracemapolis factory's land, buildings, machinery and any other properties except for personnel to GWM and the process is expected to be done by the end of 2021.
A press release from GWM said it would introduce advanced production, quality control, environmental protection, and information management concepts in line with its global manufacturing standards to build the factory into a smart production base catering to the demands of Brazil and other South American countries.
This deal will expand GWM's global presence with factories covering China, Russia, Thailand, India, Brazil and other strategic markets and uniting the 500 sales networks worldwide. Besides, it will help to expand GWM's global presence further, contribute to its ambitious goal of selling four million vehicles globally by 2025
Brazil leads all the South American countries in terms of economy, land area and population. It also serves as one of the seven largest automotive markets globally, with immense potential for automobile consumption.
In addition, GWM looks at Brazil as an important strategic market for enhancing its presence in South America. Therefore, after acquiring the Iracemapolis factory, GWM will leverage the geographical advantages to advance its development and implement its strategies in the South American market, benefiting local users with an intelligent, safe and high-end travel experience.
South America has served as one of the strategic markets of GWM, which started to deploy in Chile as early as 2007, and has achieved remarkable results. The first Pickup and HAVAL SUV models sold were popular among local users, which reinforced GWM's determination to further venture into the South American market.
The Iracemapolis factory will drive the development of local industries engaged in supporting R&D and other services, promote further transformation and upgrading of the local industrial mix, and contribute more profits and taxes to the Brazilian government.