(Photo source: Great Wall Motor)
Great Wall Motor is seeking bids for a marketing strategy for its "Z brand," which requires a service team with extensive experience servicing luxury car brands, implying that the brand will be a new luxury-oriented one, according to a report Tuesday on yiche.com.
The "Z brand" is not the current brand name for Great Wall's existing brands, and is likely to be an entirely new brand, the report said.
Great Wall Motor currently has a premium EV brand, Saloon, with which the "Z brand" may be associated, the report said.
The possibility that "Z Brand" is "Saloon" exists, but it could also be an entirely new brand, and Great Wall Motor cannot be ruled out as having other strategic plans, the report noted.
At the end of June, Great Wall Motor's rotating president Meng Xiangjun said at the company's 8th Technology Festival that the first product of Saloon, positioned as a luxury smart battery electric vehicle, will be launched in 2022.
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).
Great Wall Motor plans to use Saloon and Ora's electric vehicle business to achieve carbon neutrality by 2045, it said at the time.
Saloon will launch its first product in 2022, and Ora will achieve sales of one million vehicles in the global market by 2023, according to the company.