TIDMINCH
RNS Number : 5259E
Inchcape PLC
30 June 2023
30 June 2023
Inchcape and GWM announce Global Strategic Partnership
Inchcape Plc, ("Inchcape"), the leading global automotive
distributor, announces that it has entered into a global strategic
partnership with Great Wall Motor Company Limited (" GWM"), a
leading privately-owned Chinese automobile manufacturer.
Under the partnership, Inchcape and GWM will develop new areas
of strategic collaboration, including opportunities for Inchcape to
distribute GWM vehicles in markets where Inchcape is already
present.
The first of these markets will be Indonesia, where we are
pleased to announce that Inchcape and GWM are signing a
Distribution Agreement today. Under this agreement, Inchcape will
provide GWM with our industry-leading distribution capabilities and
this will be one of the first markets where Inchcape will launch an
OEM in a new market with a primarily new energy vehicle
offering.
In the other markets where we work together, Inchcape and GWM
are targeting ways to further drive distribution and customer
experience and will be developing new areas of collaboration across
used cars and auto finance.
GWM's global leadership in both battery and hybrid electric
vehicles has the potential to significantly expand Inchcape's
electric vehicle (EV) offering while GWM will benefit from
Inchcape's strong track record of successful market entries for
OEMs, as well as its industry-leading capabilities across data,
digital and technology services.
Duncan Tait, Group CEO of Inchcape, commented:
"Today's announcement marks the start of an exciting new chapter
for both Inchcape and GWM and is an excellent example of our
strategy in action. At Inchcape we accelerate the performance of
our mobility company partners, unlocking opportunities through our
people and technology, and this is a prime example of how we can
achieve this.
This global strategic partnership further strengthens our
position as a leading distributor of Chinese OEMs. By partnering
with GWM, a global leader in the production of battery and hybrid
electric vehicles, we are aiming to significantly increase our
global offering of EVs. In addition, the partnership will have an
immediate tangible commercial impact on our business, by further
increasing our presence in the exciting, high growth market of
Indonesia.
We look forward to bringing more GWM vehicles into more markets,
and giving more consumers globally access to their impressive EV
offering ."
Contacts
Inchcape plc:
Rob Gurner Investor queries +44 (0)7825 189088 investors@inchcape.com
Krishma Arora
Media enquiries (Brunswick
Group):
Kate Holgate / Helen +44 (0)20 7404 inchcape@brunswickgroup.com
Smith 5959
About Inchcape
Inchcape is the leading global automotive distributor, with
operations across six continents. Through the unique expertise of
our people, our suite of cutting-edge technology products, and our
approach to advanced data analytics, we provide the platform for
the world's leading mobility companies to accelerate their
ambitions in markets where we and our partners want to succeed.
Our distribution platform connects the products of mobility
companies with customers, and our responsibilities span from
product planning and pricing, import and logistics, brand and
marketing to operating digital sales, managing physical sales and
aftermarket service channels.
Inchcape is driven by its purpose of 'bringing mobility to the
world's communities, for today, for tomorrow and for the better'.
We are committed to making a positive contribution to the
communities in which we operate, for our people, for society and
for the planet. The Group is headquartered in London and employs
around 19,000 people globally.
www.inchcape.com
About GWM
GWM provides global users with intelligent and green mobility
services and has been accelerating its transformation into a global
intelligent technology company. It runs a business of vehicles and
parts, covering design, R&D, production, sales, and services,
and owns HAVAL, WEY, ORA, TANK, POER, and so on, with production
and sales across the world. GWM has built the energy-and
intelligence-oriented Forest Ecosystem. In the field of new energy,
GWM focuses on three directions, including hybrid electric, battery
electric, and hydrogen energy. In terms of intelligent driving
technology, GWM makes efforts on the whole industry chain of
intelligent driving, intelligent space, and intelligent chassis. It
has also built an industry-leading energy system of "photovoltaic
+distributed energy storage + centralized energy storage", and
covered the entire value chain of "solar energy - battery -
hydrogen energy - vehicle power". GWM has worldwide sales network,
covering more than 170 countries and regions with more than 700
overseas sales channels and overseas sales of more than 1.15
million vehicles. GWM Group
www.gwm-global.com
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