MOSCOW, June 7, 2019 /PRNewswire/ -- Haval SUV ("Haval"), China's leading SUV brand, has unveiled its completed factory in Tula, Russia and presented Haval F7 - the first rolled-off SUV from Tula Factory to President Xi Jinping and President Vladimir Putin, ushering in a new era of Sino-Russian relations on the 70th anniversary of economic cooperation between both nations.
As Russia's largest industrial project and China's first full-process overseas plant, the factory plays an integral role in Russia's ambition to become the world's fifth largest economy by 2024, as well as in China's Belt and Road initiative. The Haval F7 is the first vehicle mass-produced in the factory, with models priced from $1.449 million rubles, and both presidents signed China's first 'global car' to express their support.
"Haval's factory marks a milestone in China's transition into an export powerhouse and pioneers a global approach for the auto industry," said Wei Jianjun, Chairman of Great Wall Motor Company Limited. "Automakers should invest in developing local economies to successfully deliver China's technological and manufacturing innovations to the world."
Haval showcased the F7 and H9 to both leaders, and President Xi expressed overwhelming encouragement for Haval's Russian market strategy.
As part of Haval's Globalization 3.0 strategy, the US $500 million Tula factory will boost Russia's economic development, generating over RMB $3 billion in local profits and taxes and creating 4,000 jobs. Its strategic geographic location also stimulates foreign income, as Haval plans to export products from the factory to Kazakhstan, Azerbaijan, Moldova and Kyrgyzstan.
Haval SUV, part of Great Wall Motor Company Limited (OTCPink: GWLLF), is China's No. 1 SUV brand and a fast-growing global SUV manufacturer. Independently operated since 2013, Haval was ranked second in the 'Most Valuable SUV' rankings by Brand Finance Auto & Tyres 2017, and sixteenth in Brand Finance Auto & Tyres' '100 World's Most Valuable Automobile Brands of 2018'.
For more information, please visit http://www.haval-global.com/
SOURCE Great Wall Motors