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Great Wall Motor, China’s largest SUV maker, said it expects to scale up its overseas sales this year to 500,000 units, which would mark a 59.23 percent rise year-on-year.
Last year, it delivered 314,000 vehicles outside of China, a record high for the company, which was one of the earliest Chinese carmakers to explore global markets.
The carmaker unveiled the overseas sales goal at its shareholder meeting on Friday.
Wei Jianjun, chairman of the Hebei province-based carmaker, said new energy vehicles from Chinese carmakers have advantages over rivals in other countries thanks to China’s firm commitment to the sector.
Shi Qingke, a GWM vice-president in charge of overseas business, said the carmaker is speeding up to introduce new models into overseas markets.
He said that the number of model launches will exceed 10 this year in its major destinations including Latin America, the Middle East and Southeast Asia.
Of the 500,000-unit sales goal this year, over 300,000 units are expected to be from Haval, said Shi. Other contributors include Tank and Poer.
Shi added that the priorities of GWM’s overseas business strategy include not only fast expansion but also profitability.
GWM President Mu Feng expects the company’s overseas deliveries to reach 1 million by 2030.
China-made vehicles are gaining momentum in overseas markets. Carmakers shipped 504,000 vehicles out of China last month, up 34 percent year-on-year, according to the China Association of Automobile Manufacturers.
The vehicles shipped overseas included both those from local Chinese carmakers and also international brands such as Tesla.
Exports in the first four months this year totaled 1.83 million units, up 33.4 percent from the same period last year, said the CAAM.