- Great Wall Motor's chairman previewed a supercar in a photo, marking the Chinese automaker's first glimpse of the model.
- The company's CTO mentioned in late April that Great Wall Motor had been working on a supercar project for the past five years.
Great Wall Motor (HKG: 2333) chairman Wei Jianjun previewed a supercar that will compete with Ferrari, marking the Chinese automaker's first glimpse of the model.
Wei shared a photo on Weibo today showing him and Great Wall Motor executives standing next to a vehicle covered in black cloth that appears to be a supercar.
"On the 35th anniversary of Great Wall Motor, I took a photo with our executives," Wei wrote.
The company's CTO, Wu Huixiao, mentioned in late April that Great Wall Motor had been working on a supercar project for five years, with the goal of creating a car that will give drivers an adrenaline rush.
Great Wall Motor had not released the supercar after such a long time because the company wanted to continue to reduce costs, Wu said at the time.
When asked how the supercar compares to the Ferrari SF90, Wu said Great Wall Motor's supercar would be better, but the company would learn from its peers.
Headquartered in Baoding, Hebei province, Great Wall Motor was founded in 1984 as a small manufacturing enterprise partly owned by the Hebei provincial government.
Wei was appointed to the board of Great Wall Motor in 1990 and led the company to become one of China's largest automakers.
Currently, Great Wall Motor owns brands including Haval, Wey, Tank, and Ora, and its current models are mainly SUVs (sport utility vehicles) and pickup trucks.
In the first half of this year, Great Wall Motor sold 569,789 vehicles, representing a year-on-year increase of 1.81 percent, according to data compiled by CnEVPost.
One of Great Wall Motor's main competitors, BYD (HKG: 1211, OTCMKTS: BYDDY), as well as several other domestic automakers, have already launched supercars.
BYD's premium brand Yangwang launched the U9 electric supercar on February 25, 2024. The two-seater model features a powertrain capable of delivering up to 1,306 horsepower and 1,680 Nm of torque, enabling it to accelerate from 0 to 100 km/h in just 2.36 seconds.
The Yangwang U9 is available in a single version, with a starting price of RMB 1.68 million ($234,150).
($1 = RMB 7.1750)
