China's leading SUV manufacturer, Great Wall Motor, plans to launch a new high-end SUV brand later this year to help drive sales of premium models.
The company said the first of a new range of 'Wey' premium SUVs will be launched in May and will be priced at between CNY150,000-200,000 (US$21,870-29,160).
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Two more Wey SUVs are scheduled to be launched later in the year and a further two in 2018, according to local reports quoting company sources.
Great Wall said the new premium SUVs will be equipped with the latest performance and safety technology and have attractive body designs. It aims to win market share in the premium segment currently dominated by international brands.
According to local reports, the company sold 938,000 SUVs last year, including 580,700 Haval H6 models, to claim a 10.4% share of the local SUV market.
Around 9.4m SUVs were sold in China last year, according to the China Association of Automobile Manufacturers, an increase of almost 45% on the previous year.
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