- Great Wall Motor has created a new business unit aimed at the ultra-luxury market, and its chairman Wei Jianjun will also serve as chairman of a new brand.
- One of the new brand's missions will be to explore state-of-the-art technologies, as well as new strategic directions.
Great Wall Motor (OTCMKTS: GWLLF, HKG: 2333) has created a new business unit to target the ultra-luxury market, and its chairman Wei Jianjun will also serve as chairman of a new brand, local media outlet LatePost reported today.
The automaker's previous vice president of technology, Song Dongxian, is serving as CEO of the new business, with Zhang Xiaobo as CTO, an appointment that was announced in a small circle on January 1, according to the report.
Great Wall Motor's move breaks with its tradition and is its first in-house team to create a chairman position, according to the report.
Wei will be involved in the model definition and engineering development of the ultra-luxury car brand, with a high level of involvement in certain details, a person familiar with the matter said.
Great Wall Motor previously had a premium electric vehicle (EV) brand, Saloon, which fell into silence after announcing its first model in November 2021.
In February last year, another local media outlet, 36kr, reported that Great Wall Motor was planning to relaunch the Saloon brand, which would be integrated under the premium Wey brand.
Since then, however, there has been no new information about the Saloon brand.s
The new ultra-luxury brand project was discussed in 2021, the same year Great Wall Motor's premium off-road brand Tank becomes independent, LatePost's report today said, citing a person familiar with the matter.
One of the new brand's missions is to explore state-of-the-art technologies, as well as a new strategic directions, the person familiar with the matter said.
The new brand will use Great Wall Motor's own 4.0T V8 engine, the report said, adding that most of the models currently on sale with this displacement engine in China are luxury cars that cost more than RMB 1 million ($136,000).
The automaker's ultra-luxury brand could use a variety of technology routes, at least one of which would be a high-power internal combustion engine-based route with electric motors, using the motors more for the start-up phase to improve the driving experience at low torque, according to the report.
Wei has asked his team to operate the ultra-luxury brand in high quality and low volume, according to LatePost.
The new brand's product definition, development, manufacturing, and sales will be different from production cars, using more innovative and high-tech materials, according to the report.
($1 = RMB 7.3322)
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