Chinese automaker Great Wall Motor will launch the first product of the company's premium EV brand Saloon in 2022, positioning it as a luxury smart battery electric vehicle.
Great Wall Motor rotating President Meng Xiangjun revealed the plan at Great Wall Motor's 8th annual Technology Festival, according to a report in the China Securities Journal on Monday.
Great Wall Motor announced its 2025 strategic goal of achieving annual sales of 4 million vehicles by 2025, with new energy vehicle sales accounting for 80 percent and revenue exceeding RMB 600 billion ($92.8billion), according to a separate report by nbd.com.cn.
Great Wall Motor plans to use Saloon and Ora's EV business to achieve carbon neutrality by 2045.
Saloon will launch its first product in 2022 and Ora will sell a million units in the global market by 2023, according to the company.
Saloon is relocating its team from Shanghai to Beijing to shorten the distance between the team and Baoding, Hebei, where Great Wall Motor is headquartered, nbd.com.cn reported last Wednesday.
From current hiring information, Saloon will have two office locations in Beijing, Yizhuang and Daxing. "The plan is to reach 1,000 employees by the end of this year and 2,000 by the end of next year," the report said, citing a company insider.
Along with Saloon's plan to move to Beijing, its product technology line has also changed. In addition to the previously planned all-electric route, Saloon will also build hydrogen-fueled models, the report said.
The change is related to Great Wall Motor's recent deployment in the hydrogen field, the report said, adding that the company has invested a total of RMB 2 billion in R&D in hydrogen over the past six years and will invest another RMB 3 billion in the future.
(Source: Great Wall Motor)