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China’s Great Wall Motor announced Wednesday that it plans to
build a production plant in Russia to increase its presence in the country’s burgeoning car market.
Great
Wall sold only 6,600 cars in Russia last year, but plans to dramatically improve that number when the new plant goes
live with an annual capacity of 50,000 units. Great Wall’s total production of SUVs, pickup trucks and sedans last year
was over 200,000 units, making it China’s largest automaker.
Great Wall is waiting for official approval from
the Russian government for the $100 million facility, to be located in Tartarstan. Once it gets the go-ahead, the
company says the new plant could be completed in ten months.
[Source: Reuters]