Haval Awarded Best Investor in Russian Automotive Industry
Great Wall Motor's Haval brand has received the "Best Investor of the Year 2019" award in the Russian automotive industry for its Tula plant project.
Chinese automaker Great Wall Motor Company Limited (GWM) has been recognized within the Russian automotive sector. Its Haval brand was presented with the "Best Investor of the Year 2019" special award for its investment in the Tula plant project.
The award was given by the Publishing House of Drive, considered a significant honor in the Russian automotive industry. Haval's Tula facility represents GWM's largest overseas investment and stands as the first wholly-owned, full-process plant by a Chinese brand in Russia.
The investment initiative began in 2014 when GWM signed an agreement with the Tula regional government. The Haval Tula plant has seen a total investment of $500 million USD. The facility houses pressing, welding, painting, and assembly workshops, with an intended annual production capacity reaching 80,000 units in Phase I and scaling to 150,000 in Phase II.
The plant is expected to cater to local demand and facilitate exports to neighboring countries and Europe. The recently launched Haval F7, a contemporary SUV, is slated for sale in the Russian market.