Great Wall Motor (SHA:601633, HKG:2333) is aiming to reach an annual capacity of 100,000 vehicles at its new factory in Iracemápolis, Brazil, YiCai Global reported Wednesday.
Initially producing 50,000 units and creating 800 jobs, the plant will scale up to support 2,000 workers, according to the report. The company acquired the plant in 2021 with plans to start operations in May.
Brazil will serve as Great Wall Motor's Latin American research and development hub and manufacturing base, YiCai Global wrote.
Shares of the automobile maker were down 1% in recent trade on the Hong Kong bourse.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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