Great Wall Motor may sell shares in Shanghai in 3 years

Great Wall Motor Co., Ltd. may sell shares in Shanghai by 2012, Bai Xuefei, vice-president and secretary to the president said Wednesday in Hong Kong.

The company expects to sell as many as 190,000 vehicles in 2009, Bai said. It will increase production capacity to 250,000 vehicles annually by the end of the year, he added.

Exports of Great Wall Motor vehicles dropped about 50 percent in H1, only contributing 16 percent of total sales in the first half of 2009.

Agencies and Shi Jierui contributed to this story