Guangzhou Automobile or GAC (HKG:2238, SHA:601238) will start selling vehicles in Brazil and will begin manufacturing cars in Latin America's largest economy in late 2026, Reuters reported Friday.
The car manufacturer launched four imported electric car models and a hybrid model, the report said.
GAC expects sales in Brazil to top 100,000 units in the next five years, Reuters said, citing GAC International President Wei Haigang.
The company plans to invest 6 billion reais in the country in the next five years with a long-term strategy, as Brazil is "very important" to GAC, Reuters reported, citing Wei.
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