Great Wall Motor will invest $1.9bn in Brazil over the next decade to make electric and hybrid cars, in the latest example of China’s auto industry expanding overseas.
The Baoding-headquartered group said it would open its biggest operation outside China at a former Mercedes-Benz factory in the interior of São Paulo state, serving as an export hub in Latin America.
The Brazil venture by one of China’s biggest carmakers follows a series of Chinese deals in Latin America focused on mining, materials processing and production assets in the electric vehicle supply chain, an industry prioritised by Beijing. Parts of the region are rich in lithium and copper, metals that are critical for electric vehicle production.
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