Great Wall Motor, a prominent Chinese electric-vehicle maker, has stepped up to address the European Union's antisubsidy investigation. The company remains unwavering in its commitment to expanding overseas, a move highlighted by its plans to establish a factory in Europe.
According to Mu Feng, the president of Great Wall Motor, an open and fair trade environment is crucial for the company's growth. In a recent post on his Weibo social media account, he revealed that Great Wall Motor promptly responded to investigators by submitting their feedback to the European Commission on October 11th.
Europe is considered a strategic market for Great Wall Motor, and the company is determined to expedite the process of selecting a suitable location for its first factory in the region. Mu Feng emphasized that despite the challenges faced by Chinese automakers venturing into international markets, they remain resolute in their efforts for global expansion.
The European Union initiated the anti-subsidy probe last month amidst concerns over the impact of competitively-priced Chinese products on local industries. Great Wall Motor, recognizing the sluggish growth of the automotive sector in China, has been actively working to strengthen its international presence. Notably, the company witnessed an impressive 89% year-on-year increase in total exports, surpassing 211,000 vehicles between January and September.
In conclusion, Great Wall Motor's response to the European antisubsidy investigation signifies their dedication to fair trade practices. With ambitions to penetrate the European market and counter stagnant domestic sales, Great Wall Motor is determined to overcome obstacles and make significant strides towards global expansion.