Great Wall Motors acquires Daimler plant in Brazil

Chinese automaker Great Wall Motors (GWM) has purchased a plant previously owned by Daimler in Iracemápolis, Brazil. The company will take over the land, plant, machinery and equipment from Daimler by the end of the year. GWM attributed this to the expansion of its presence in South America. „Brazil is one of the most important strategic overseas markets for GWM,“ said GWM vice president Liu Xiangshang. The company plans to produce 100,000 cars annually at the factory.