A Chinese company GAC Motor entered Russian automotive market. The company participated in St. Petersburg International Motor-Show where it announced its plans on conquering Russian market and possible localization of production.
Deputy Director of Economic Development Agency of Leningrad Region Anastasia Mikhalchenko presented investment potential of the region and land plots for possible localization of the company during a working meeting with the President of GAC Group Mr. Feng Xingya.
According to the President of GAC Motor Mr. Yu Jun, the company plans to launch sales in our country this year. Several agreements have already been concluded with Russian dealers. “We are planning to increase the volume of sales annually and reach the indicator of 50,000 cars within 5 years,” said Mr. Yu Jun.
Guangzhou Automobile Group Motor CO., LTD (GAC Motor) was established in 2008 and it is a part of GAC Group which occupies the 202 place in Fortune Global 500 ranking. GAC Motor develops and manufactures premium class cars, engines, components and car accessories. Over the last five years the company occupies the first place among Chinese brands in J.D. Power Asia Pacific's China Initial Quality Study SM (IQS). The company has its subsidiary in Russia – GAC Motor RUS.
