Great Wall Motor invests 4.2 billion yuan in Tianjin

Great Wall Motor has recently signed with the government of Tianjin Municipality to invest 4.2 billion yuan ($0.62 billion) for the project of another 300,000 passenger vehicles, B-class models and high-class SUVs.

Under the deal, the project will include building supporting facilities such as punching press, welding, painting, assembling and testing. With an area of 1.078 million square meters, the construction of the project will last from 2013 to 2015.

The total output value of the project is expected to reach 30 billion yuan ($4.39 billion). The output at Tianjin production base will reach 300,000 units in 2011, 600,000 units in 2012 with 100 billion yuan ($14.64 billion) of output value and 1 to 1.2 million units in 2015 with 250 billion yuan ($36.31 billion) of output value.