Sunday, June 23, 2024

Chinese Great Wall Motor denies allegations of European market withdrawal

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Chinese automaker Great Wall Motor has denied rumors of withdrawing from the European market, despite announcing the closure of a subsidiary office in Germany.

“The allegations of our withdrawal from Europe are completely unfounded,” said Xu Lin, managing director of GWM Netherlands Investment Holdings B.V., in an exclusive interview with Xinhua.

She emphasized that the company highly values the business autonomy of its existing dealer partners and will continue collaborating with them to maintain sales and services across Europe.

“We are currently adjusting our future European strategy and modifying our European market configuration with plans to expand and enter new markets,” she said.

Regarding the reasons for closing the German office, Xu cited numerous upcoming uncertainties. She emphasized that increasing protectionism and the European Commission’s use of unfair measures to pressure Chinese new-energy vehicle companies were significant factors.

GWM established its European operation headquarters in Munich, Germany, in 2021, with the intention of using it as a base to tap into the potential of the European market.

The closure of GWM Deutschland GmbH will result in the layoff of over 100 German workers. “It is heartbreaking for me, as I have seen my European colleagues grow alongside the company over the past few years,” Xu said.

“We hope that the new European Commission will listen to companies’ concerns and take measures to stabilize its investment environment,” she said.

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