Great Wall Motor to Invest CNY3.33 Billion for Production Facility in Russia

   By Joanne Chiu

Great Wall Motor Co. (2333.HK) said Wednesday it plans to invest 3.33 billion yuan ($523 million) to set up a production facility in Russia as the Chinese car maker looks to boost sales overseas.

Great Wall Motor said it has set up a wholly-owned unit Haval Motor Manufacturing Rus Ltd. in Russia's industrial city of Tula. In May, it signed an agreement with the local Russian government and Tula Oblast Public-Private Partnership Development Group on the proposed investment.

Haval Motor will be responsible for the manufacturing and sale of cars and car parts with an annual production capacity of 150,000 cars, it said.

Write to Joanne Chiu at joanne.chiu@wsj.com

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(END) Dow Jones Newswires

September 16, 2015 05:39 ET (09:39 GMT)

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