Chinese automaker listed as international war sponsor

The National Corruption Prevention Agency has listed Chinese car maker Great Wall Motor as an international sponsor in a war to abandon the Russian market and plans to expand. NAPC reported this on Tuesday, May 9.

Great Wall Motor Private Company is the eighth largest car manufacturer in China, selling cars under its own brands – GWM, Haval, WEY, TANK, POER, ORA. Billionaire owner Wei Jianjun owns 55.78% of the shares.

“Great Wall Motor says it has no immediate plans to leave Russia and is considering a long-term investment of more than 3 billion yuan ($472 million) in this market,” Xu, Secretary of the Board of Great Wall, told a statement Hui.

In the current year, Russia is the largest sales market for Great Wall. Last year, the Russian Federation accounted for almost 30% of foreign income.

Last year, the Chinese company presented the new Tank brand to the Russian market and plans to bring the Poer KingKong pickup truck, and in 2023 the T300 and T500 SUVs will be released.

There are currently 115 Great Wall Motor dealerships in Russia.

“Statements of concern indicate that income in the Russian Federation in 2021 will reach 4.973 billion yuan (about $ 780 million), which is twice as much as in 2020 – 2.2 billion yuan. Manufacturing Rus ranks second among terms of net income – $340 million.

This year, Great Wall Motor aims to increase sales of its products by 50.9% to 1.6 million units.

Thus, the company continues to pay significant taxes to the budget of the Russian Federation, actively support its economy and, accordingly, sponsor the war against Ukraine.

It will be recalled that earlier the NAPC included the Hungarian OTP Bank in the list of international sponsors of the war.