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In June this year, Great Wall Automobile's first wholly-owned overseas manufacturing plant, the Great Wall Automobile Russian Tula Plant (hereinafter referred to as "Tula Plant"), was officially completed and put into production. Great Wall Automobile Harvard F7 went offline and listed overseas. On the same day, China Great Wall Motor Company, which opened a factory and put into production in Tula, intends to sign a special investment contract with the Russian Ministry of Industry and Trade.

The document pointed out: "during the 2019 St. Petersburg International Economic Forum, the Tula state government, the Russian Ministry of Industry and Trade and the Great Wall Automobile subsidiary plan to sign an agreement of intention to conclude a special investment contract." It is planned to build a production plant for internal combustion engines and automatic transmissions, while localizing the production of chassis, interior and exterior components. By 2023, four new compact and small SUV models are expected to be developed. "

As a result, Great Wall may become the first Chinese car company to sign a long-term investment agreement in Russia. Great Wall also plans to invest about 30 billion rubles ($470 million) in the development of the Tula plant.

In response, Russian Minister of Industry and Trade Manturov said: "they have submitted an application and the application is being processed. Given our requirements for the level of localization of investors' capital and technical processes, I do not rule out the possibility that they may become the first carmaker to sign a new special investment contract."

According to the new special investment contract policy issued by the Russian government, if investors adopt the technology encouraged by the Russian government and reach the prescribed level of investment and localization, the Russian government will provide investors with various tax and non-tax concessions.

The Tula plant is the first of the four wholly-owned manufacturing plants of Great Wall overseas, with an investment of US $500 million in the first phase of the project and a planned production capacity of 80,000 vehicles in the first phase. After realizing the local production, the new factory can not only reduce the cost and reduce the pressure of competition, but also establish a good brand image all over the world. In addition, the factory has local R & D capability, and the commissioning of production will also enhance the radiation capacity of Great Wall to the Eastern European market.

The Tula factory is the epitome of the independent innovation of Great Wall Automobile. In technological research and development, Great Wall Motor has always persisted in increasing investment, laying a solid foundation for sustained independent innovation and opening up overseas markets.

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