On August 29, GWM and Vietnam's TAG signed a memorandum of understanding for cooperation on a CKD (Completely Knocked Down) assembly project. This collaboration will deepen GWM's "Global Ecosystem" strategy, expanding its global production and supply network.

Signing ceremony between GWM and TAG

Parker Shi, President of GWM International, Vice President Cui Xiaohui, and Chairman of TAG, Nguyen Quoc Hoan among other senior executives, attended the signing ceremony. They held in-depth discussions on future cooperation visions, planning to leverage their respective expertise and resources to jointly expand the market. GWM officially entered the Vietnamese market in August 2023, and the factory is expected to achieve localized production and sales by the end of 2025.

To implement its "Global Ecosystem" strategy and enhance the high-quality development of its overseas operations, GWM is actively promoting "localized production" construction, shifting from exporting products and trade to manufacturing abroad, thereby forming a global production network. Currently, GWM has achieved a "dual-wheel drive" model with both domestic and overseas operations, forming a global production layout of "10+3+N." This consists of 10 factories in China, 3 overseas factories, and multiple KD (Knock Down) factories overseas.

To rapidly supplement its overseas production capacity, GWM overseas KD factory projects have become an important means of expanding production capacity, in addition to its full-process factories. On June 26 of this year, GWM KD factory in Uzbekistan officially started operations. Following the commencement of KD factory operations in Ecuador, Pakistan, Uzbekistan, and Ghana, several projects in Indonesia, Malaysia, and other locations are expected to begin production within the year. These projects will quickly expand GWM's overseas production network, better meeting the needs of international markets.

GWM is currently facing global opportunities and maintaining rapid growth. From January to August of this year, its overseas sales reached 280,139 units, a year-on-year increase of 54.20%. In August alone, overseas sales amounted to 40,454 units, a year-on-year increase of 31.60%, setting a new monthly record for overseas sales. In response to the rapidly growing demand overseas, GWM will adhere to the principle of "rooting locally, serving locally" in global markets, striving to provide higher quality products and services through localized production, thereby accelerating its global expansion.