Great Wall Motor has decided to build an automobile factory in Brazil for which preparation for a ‘big investment’ is ongoing on, reported Bloomberg News citing the automaker’s chairman Wang Fengying.
Fengying did not give any other details with regards to investment.
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The information was disclosed during a meeting on the automotive sector in Chengdu.
The company is building the factory in Brazil in order to overcome the decision of the government to raise industrialised products taxes on cars that do not contain at least 65% of Brazilian made parts.
